Income Tax (Earnings and Pensions) Act 2003
Sections and provisions with full text and the judgments that cite each one.
Section 149C — Priority share allocations
Priority share allocations 149C Section 17(1) shall not apply to an acquisition of shares if section 542 or 544 of ITEPA 2003 applies in relation to it.
Section 150 — Car fuel: calculating the cash equivalent
Car fuel: calculating the cash equivalent 150 1 The cash equivalent of the benefit of the fuel is the appropriate percentage of £29,200 . 2 The “ appropriate percentage ” means the appropriate…
Section 151 — Car fuel: nil cash equivalent
Car fuel: nil cash equivalent 151 1 The cash equivalent of the benefit of the fuel is nil if condition A or B is met. 2 Condition A is met if ...— a in the tax year in question, the employee is…
Section 152 — Car fuel: proportionate reduction of cash equivalent
Car fuel: proportionate reduction of cash equivalent 152 1 The cash equivalent of the benefit of the fuel is to be proportionately reduced if for any part of the tax year in question the car for…
Section 153 — Car fuel: reduction of cash equivalent
Car fuel: reduction of cash equivalent 153 If a reduction of the cash equivalent of the benefit of the car for which the fuel is provided is made under section 148 (reduction of cash equivalent where…
Section 154 — Benefit of van treated as earnings
Benefit of van treated as earnings 154 1 If this Chapter applies to a van in relation to a particular tax year, the cash equivalent of the benefit of the van is to be treated as earnings from the…
Section 154A — Benefit of van treated as earnings: optional remuneration arrangements
Benefit of van treated as earnings: optional remuneration arrangements 154A 1 Where this Chapter applies to a van in relation to a particular tax year and the conditions in subsection (2) are met— a…
Section 155 — Cash equivalent of the benefit of a van
Cash equivalent of the benefit of a van 155 1 The cash equivalent of the benefit of a van for a tax year is calculated as follows. 1A If the restricted private use condition is met in relation to the…
Section 156 — Meaning of “shared van”
Meaning of “shared van” 156 1 The cash equivalent of the benefit of a van for a tax year under section 155 is to be reduced if the van has been unavailable on any day during the year. 2 For the…
Section 157 — Reduction of cash equivalent where van is shared
Reduction of cash equivalent where van is shared 157 1 This section applies if in a tax year a van— a is available to more than one employee concurrently, b is so made available by the same employer,…
Section 158 — Reduction for payments for private use
Reduction for payments for private use 158 1 The cash equivalent of the benefit of a van for a tax year under section 155 (after any reduction under sections 156 and 157) is to be reduced if, as a…
Section 158A — Van provided pursuant to optional remuneration arrangements: private use
Van provided pursuant to optional remuneration arrangements: private use 158A 1 In calculating the relevant amount under section 154A in relation to a van and a tax year, a deduction is to be made…
Section 159 — Modification of provisions where van temporarily replaced
Modification of provisions where van temporarily replaced 159 1 This section applies if— a the van normally available to an employee (“the normal van”) is not available to the employee for a period…
Section 160 — Benefit of van fuel treated as earnings
Benefit of van fuel treated as earnings 160 1 If in a tax year— a fuel is provided for a van by reason of an employee’s employment, b that person is chargeable to tax in respect of the van by virtue…
Section 160A — Benefit of van fuel treated as earnings: optional remuneration arrangements
Benefit of van fuel treated as earnings: optional remuneration arrangements 160A 1 This section applies if— a fuel is provided for a van in a tax year by reason of an employee's employment, b the…
Section 161 — Van fuel: the cash equivalent
Van fuel: the cash equivalent 161 The cash equivalent of the benefit of the fuel is— a where the tax year is the tax year 2005-06 or 2006-07, nil, and b where the tax year is a later tax year, £798 .
Section 162 — Van fuel: nil cash equivalent
Van fuel: nil cash equivalent 162 1 The cash equivalent of the benefit of the fuel is nil if condition A or B is met. 2 Condition A is met if ... — a in the tax year in question, the employee is…
Section 163 — Van fuel: proportionate reduction of cash equivalent
Van fuel: proportionate reduction of cash equivalent 163 1 The cash equivalent of the benefit of the fuel is to be proportionately reduced if for any part of the tax year in question the van for…
Section 164 — Van fuel: reduction of cash equivalent
Van fuel: reduction of cash equivalent 164 If a reduction of the cash equivalent of the benefit of the van for which the fuel is provided is made under section 157 (reduction of cash equivalent where…
Section 167 — Pooled cars
Pooled cars 167 1 This section applies to a car in relation to a particular tax year if for that year the car has been included in a car pool for the use of the employees of one or more employers. 2…
Section 168 — Pooled vans
Pooled vans 168 1 This section applies to a van in relation to a particular tax year if for that year the van has been included in a van pool for the use of the employees of one or more employers. 2…
Section 169 — Car available to more than one member of family or household employed by same employer
Car available to more than one member of family or household employed by same employer 169 1 This section applies where— a an employee (“E”) and a member of the employee’s family or household (“M”)…
Section 169A — Van available to more than one member of family or household employed by same employer
Van available to more than one member of family or household employed by same employer 169A 1 This section applies where— a an employee (“E”) and a member of the employee’s family or household (“M”)…
Section 170 — Orders etc. relating to this Chapter
Orders etc. relating to this Chapter 170 1 The Treasury may by order substitute a greater amount for that for the time being specified in— a . . . . . . . . . . . . . . . . . . . . . . . . . . . . .…
Section 171 — Minor definitions: general
Minor definitions: general 171 1 In this Chapter— “ business travel ”, in relation to any employee, means travelling the expenses of which, if incurred and paid by the employee, would (if Chapter 2…
Section 172 — Minor definitions: equipment to enable a disabled person to use a car
Minor definitions: equipment to enable a disabled person to use a car 172 1 In section 125(2)(c) “ equipment to enable a disabled person to use a car ” means equipment— a which is designed solely for…
Section 173 — Loans to which this Chapter applies
Loans to which this Chapter applies 173 1 This Chapter applies to a loan if it is an employment-related loan. 1A Where this Chapter applies to a loan— a the loan is a benefit for the purposes of this…
Section 173A — Alternative finance arrangements
Alternative finance arrangements 173A 1 For the purposes of this Chapter a reference to a loan includes a reference to arrangements— a to which section 564C of ITA 2007 or section 503 of CTA 2009…
Section 174 — Employment-related loans
Employment-related loans 174 1 For the purposes of this Chapter an employment-related loan is a loan— a made to an employee or a relative of an employee, and b of a class described in subsection (2).…
Section 175 — Benefit of taxable cheap loan treated as earnings
Benefit of taxable cheap loan treated as earnings 175 A1 This section applies where an employment-related loan is a taxable cheap loan in relation to a tax year. 1 The cash equivalent of the benefit…
Section 175A — Optional remuneration arrangements: “relevant amount” and “modified cash equivalent”
Optional remuneration arrangements: “relevant amount” and “modified cash equivalent” 175A 1 In section 175(1A) “ the relevant amount ”, in relation to a loan the benefit of which is provided pursuant…
Section 176 — Exception for loans on ordinary commercial terms
Exception for loans on ordinary commercial terms 176 1 A loan on ordinary commercial terms is not a taxable cheap loan. 2 In this section a “ loan on ordinary commercial terms ” means a loan— a made…
Section 177 — Exceptions for loans at fixed rate of interest
Exceptions for loans at fixed rate of interest 177 1 A fixed rate loan made on or after 6th April 1978 is not a taxable cheap loan by reason only of an increase in the official rate of interest since…
Section 178 — Exception for loans where interest qualifies for tax relief
Exception for loans where interest qualifies for tax relief 178 A loan is not a taxable cheap loan in relation to a particular tax year if, assuming interest is paid on the loan for that year…
Section 179 — Exception for certain advances for necessary expenses
Exception for certain advances for necessary expenses 179 1 An advance by an employer to an employee for the purpose of paying for— a necessary expenses, or b incidental overnight expenses, is not a…
Section 180 — Threshold for benefit of loan to be treated as earnings
Threshold for benefit of loan to be treated as earnings 180 1 Section 175 does not have effect in relation to an employee and a tax year— a if the normal £10,000 threshold is not exceeded, or b where…
Section 181 — The official rate of interest
The official rate of interest 181 1 “ The official rate of interest ” for the purposes of this Chapter means the rate applicable under section 178 of FA 1989 (general power of Treasury to specify…
Section 182 — Normal method of calculation: averaging
Normal method of calculation: averaging 182 The normal method of calculating for the purposes of this Chapter the amount of interest that would be payable on a loan for a tax year at the official…
Section 183 — Alternative method of calculation
Alternative method of calculation 183 1 The alternative method of calculating for the purposes of this Chapter the amount of interest that would be payable on a loan for a tax year at the official…
Section 184 — Interest treated as paid
Interest treated as paid 184 1 This section applies where — a the cash equivalent of the benefit of a taxable cheap loan is treated as earnings from an employee's employment for a tax year under…
Section 185 — Apportionment of cash equivalent in case of joint loan etc.
Apportionment of cash equivalent in case of joint loan etc. 185 Where in any tax year the cash equivalent of the benefit of the same taxable cheap loan is to be treated as earnings of two or more…
Section 186 — Replacement loans
Replacement loans 186 1 This section applies where an employment-related loan (“the original loan”) is replaced, directly or indirectly, by— a a further employment-related loan, or b a loan which is…
Section 187 — Aggregation of loans by close company to director
Aggregation of loans by close company to director 187 1 This section applies where, in relation to any tax year, there are employment-related loans between the same lender and borrower which are…
Section 188 — Loan released or written off: amount treated as earnings
Loan released or written off: amount treated as earnings 188 1 If— a the whole or part of an employment-related loan is released or written off in a tax year, and b at the time when it is released or…
Section 189 — Exception where double charge
Exception where double charge 189 1 Section 188 (loan released or written off: amount treated as earnings) does not apply if, by virtue of any other provision of the Income Tax Acts, the amount…
Section 190 — Exclusion of charge after death of employee
Exclusion of charge after death of employee 190 1 On the employee’s death a taxable cheap loan is to be treated— a for the purposes of this Chapter as ceasing to be outstanding, and b for the…
Section 191 — Claim for relief to take account of event after assessment
Claim for relief to take account of event after assessment 191 1 A claim may be made for relief in the following cases. 2 The first case is where— a the tax payable by an employee for a tax year in…
Section 192 — Application of this Chapter
Application of this Chapter 192 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 193 — Notional loan where acquisition for less than market value
Notional loan where acquisition for less than market value 193 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Section 194 — The amount of the notional loan
The amount of the notional loan 194 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .