701 Meaning of “asset”
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

Supplemental

701  Meaning of “asset”

(1)     In this Chapter “asset” includes any property and in particular any investment of a kind specified in Part 3 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (SI 2001/544).

This is subject to subsection (2).

(2)     In this Chapter “asset” does not include—

(a)     any payment actually made of, or on account of, PAYE income;

(b)     . . ., any cash voucher, non-cash voucher or credit-token;

(c)     the following—

(i)     any shares acquired by the employee (whether or not as a result of the exercise

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