Part 5

Employment income: deductions allowed from earnings
Chapter 3

Deductions from benefits code earnings

Deductions where amounts treated as earnings under the benefits code

Deductions where certain employment-related benefits provided
365
1
A deduction from earnings is allowed if—
a
the earnings include an amount treated as earnings under Chapter 10 of Part 3 (taxable benefits: residual liability to charge) in respect of a benefit, ...
aa
the cost of the benefit was determined under section 204 or 206, and
b
had the employee incurred and paid the cost of the benefit, the whole or part of the amount paid would have been deductible under Chapter 2 or 5 of this Part.
2
The deduction is equal to the amount that would have been so deductible.
3
For the purposes of this section, the cost of the benefit is determined in accordance with section 204 or 206 .
Words in s. 365(3) substituted (with effect in accordance with s. 8(5) of the amending Act) by Finance Act 2017 (c. 10), s. 8(4)(b)
Words in s. 365 heading substituted (with effect in accordance with s. 8(5) of the amending Act) by Finance Act 2017 (c. 10), s. 8(4)(c)
S. 365(1)(aa) inserted (with effect in accordance with s. 8(5) of the amending Act) by Finance Act 2017 (c. 10), s. 8(4)(a)(ii)
Word in s. 365(1)(a) omitted (with effect in accordance with s. 8(5) of the amending Act) by virtue of Finance Act 2017 (c. 10), s. 8(4)(a)(i)