Part 16

Companies with investment business
Chapter 3

Amounts treated as expenses of management

Payments for restrictive undertakings

Payments for restrictive undertakings
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1
This section applies if a payment—
a
is treated as earnings of an employee by virtue of section 225 of ITEPA 2003 (payments for restrictive undertakings), and
b
is made, or treated as made for the purposes of section 226 of that Act (valuable consideration given for restrictive undertakings), by a company with investment business.
2
The payment is treated for the purposes of Chapter 2 as expenses of management.
S. 1234 applied (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 81(2)(3)(7) (with s. 147, Sch. 17)