Part 4 U.K. Employment income: exemptions

Modifications etc. (not altering text)

C1 Pt. 4 modified (10.6.2021) by Finance Act 2021 (c. 26), s. 26(3)

[F1 CHAPTER 10A U.K. Exemptions: bonus payments by certain employers

Textual Amendments

F1 Pt. 4 Ch. 10A inserted (with effect in accordance with Sch. 37 para. 8 of the amending Act) by Finance Act 2014 (c. 26), Sch. 37 para. 5

312F Section 312B: the office-holder requirement U.K.

(1) For the purposes of section 312B, a company meets the officer-holder requirement if the appropriate fraction does not exceed 2/5.

(2) “The appropriate fraction” means—

where—

ND is the number of persons who are one or both of the following—

(a)

a director or other office-holder of the company;

(b)

an employee of the company connected with a person within paragraph (a);

NE is the number of persons who are employees (or office-holders) of the company.]