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The Income Tax (Exemption of Minor Benefits) (Amendment) Regulations 2003
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- 2003 No. 1434
- Explanatory Note
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Explanatory Note
(This note is not part of the Regulations)
Chapter 10 of Part 3 of the Income Tax (Earnings and Pensions) Act 2003 (c. 1: “ITEPA”) provides that employment-related benefits given by an employer are chargeable to income tax. Section 210 of ITEPA provides that the Treasury may exempt minor benefits from the application of that Chapter by regulations.
These Regulations amend the Income Tax (Exemption of Minor Benefits) Regulations 2002 (S.I. 2002/205) to remove the limit on the number of qualifying meals that an employer can provide to such employees in any one year. They also make amendments consequential upon the re-enactment of section 154 of the Income and Corporation Taxes Act 1988 (c. 1) by ITEPA.
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