[809RA Special mixed fund rules for certain employment cases]
Income Tax Act 2007 (2007 c 3) | Legislation

[809RA  Special mixed fund rules for certain employment cases]

[(1)     This section applies if—

(a)     an individual has general earnings from an employment for a tax year,

(b)     those earnings include both general earnings within section 15(1) of ITEPA 2003 (“section 15(1) earnings”) and general earnings within section 26(1) of that Act (“section 26(1) earnings”),

(c)     at least some of the section 15(1) earnings, or sums deriving (wholly or in part, and directly or indirectly) from at least some of the section 15(1) earnings, are paid into an account in that tax year at a time (a “relevant time”) when the account is a qualifying account of the individual, and

(d)     at least some of the section 26(1) earnings, or sums deriving (wholly or in part, and directly or indirectly) from at least some of the section 26(1) earnings, are also paid into the account in that tax year at a relevant time.

(2)     If this section applies, the composition of each transfer made from the account in that tax year at a relevant time is to be determined as follows—

Step 1

Suppose that all the condition A transfers made from the account in the tax year at

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