- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
(This note is not part of the Regulations)
The Finance Act 2015 (c.11) (“FA 2015”) made various amendments to the Income Tax (Earnings and Pensions) Act 2003 (c.1) (“ITEPA”) with a view to simplifying the way in which benefits and expenses provided to employees are taxed. FA 2015 inserted new Chapter 7A into ITEPA which exempts certain amounts which have been paid or reimbursed to employees in respect of expenses, where a deduction from income tax would previously have been available. An exemption from income tax is provided for amounts paid or reimbursed to employees where those amounts have been calculated and paid or reimbursed in an “approved way”. These Regulations specify an approved way of calculating and paying or reimbursing expenses for the purposes of the section 289A exemption.
Regulation 1 provides that these Regulations shall have effect from the tax year 16-17 onwards and defines “qualifying travel”.
Regulation 2 sets out the approved way of calculating and paying or reimbursing standard meal allowances for employees who are undertaking qualifying travel. Meal allowances which fall within the description set out in this regulation will be exempt from income tax.
Tax Information and Impact Notes covering this instrument were published on 10th December 2014 alongside the draft clauses and explanatory notes for the Finance Bill 2015 and are available on the Government website at https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins. They remain an accurate summary of the impacts that apply to this instrument.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: