Income of company directors and professionals in practice: income tax4

1

Chapter 2 of Part 2 of the Income Tax (Earnings and Pensions) Act 20038 (tax on employment income) is amended as follows.

2

In section 6(5) (nature of charge to tax on employment income) for “Part 2” to the end substitute—

a

Part 2 of ITTOIA 2005 (trading income) by virtue of section 15 (divers and diving supervisors), 16A (voluntary office-holders: compensation for lost profits), 16B (payments to company directors) or 16C (professionals in practice: incidental income from an office or employment) of that Act, or

b

Part 3 of CTA 2009 (trading income) by virtue of section 40A (payments to company directors) or 40B (professionals in practice: incidental income from an office or employment) of that Act.