Section 716 — Income Tax (Earnings and Pensions) Act 2003: Alteration of amounts by Treasury order

Alteration of amounts by Treasury order 716 1 The Treasury may by order increase or further increase the sums of money specified in any of the following provisions.

2 They are—

a section 179(2)(a) (limit on exception for advances for necessary expenses),

b section 241(3)(a) and (b) (incidental overnight expenses: overall exemption limit),

c section 264(2) and (3) (annual parties and functions),

d section 287(1) (limit on exemption under Chapter 7 of Part 4: removal benefits and expenses),

e section 322(1) and (4) (suggestion awards: “the permitted maximum”),

f section 323(2) (long service awards),

fa section 323A(4) (trivial benefits provided by employers: cost of providing benefit),

fb section 323B(2) (trivial benefits provided by employers: annual exempt amount),

g section 324(6) (small gifts from third parties),

and h section 358(3)(b) (business entertainment and gifts: other exceptions).

3 An order relating to section 241(3)(a) or (b) may make provision for determining what earnings are treated as received on or after the date when the order comes into force.

4 An order relating to section 287(1) applies to a change of an employee’s residence where the employment change occurs on or after the day specified in the order for the purpose. “ The employment change ” here has the same meaning as in Chapter 7 of Part 4 (see section 275).