The Sporting Testimonial Payments (Excluded Relevant Step) Regulations 2016
These Regulations disapply Chapter 2 of Part 7A of the Income Tax (Earnings and Pensions) Act 2003 (“ITEPA 2003”) in relation to sporting testimonial payments. Part 7A provides that, where an arrangement exists for providing rewards, recognition or loans in connection with a person’s employment, the value of a payment made by a third party is treated as the person’s employment income.
Lifecycle
Department
Made
19 Dec 2016
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In force
06 Apr 2017
Enabling power
The Commissioners for Her Majesty’s Revenue and Customs, in exercise of the powers conferred by section 554Y(1) and (3) of the Income Tax (Earnings and Pensions) Act 2003, make the following Regulations:
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