section 403 Income Tax (Earnings and Pensions) Act 2003

[Olf]

As far as I can tell this section and act hasn't been updated since 2003. Does anyone know any different? I have checked opengov as far as I can.

Many thanks.

[944gav]

No change as far as I am aware. The £30,000 threshold still applies.

[Mx_Stu]

Whilst the legislation hasn’t changed there have been a few cases which have shaped the Revenue interpretation over the years. If you are an employer make sure you take professional advice before applying the £30,000 exemption to termination payments as if HMRC deem it to be taxable it’s not likely that you'll get the tax back from the individuals.

Bit more background here:

http://www.taxationweb.co.uk/articles/article.php?...