Section 402A — Income Tax (Earnings and Pensions) Act 2003: Split of payments and other benefits between sections 402B and 403

Split of payments and other benefits between sections 402B and 403 402A 1 In this Chapter “ termination award ” means a payment or other benefit to which this Chapter applies because of section 401(1)(a).

2 Section 402B (termination awards not benefiting from threshold treated as earnings) applies to termination awards to the extent determined under section 402C.

3 Section 403 (charge on payment or benefit where threshold applies) applies to termination awards so far as they are not ones to which section 402B applies.

4 Section 403 also applies to payments and other benefits to which this Chapter applies because of section 401(1)(b) or (c) (change in duties or earnings).