Part 6

Employment income: income which is not earnings or share-related
Chapter 3

Payments and benefits on termination of employment etc.

Payments and benefits treated as employment income

Power to vary threshold
404B
1
The Treasury may by regulations amend the listed provisions by substituting, for the amount for the time being mentioned in those provisions, a different amount.
2
The listed provisions are—
- subsections (1), (4) and (5) of section 403, and
- subsections (1), (4) and (5) of section 404 and its heading.
3
Regulations under this section may include transitional provision.
4
A statutory instrument containing regulations under this section which reduce the mentioned amount may not be made unless a draft of it has been laid before, and approved by a resolution of, the House of Commons.
S. 404B inserted (with effect in accordance with s. 5(10) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), s. 5(6)