179 Exception for certain advances for necessary expenses
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

179  Exception for certain advances for necessary expenses

(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 taxable cheap loan in relation to a particular tax year if the following conditions are met.

(2)     The conditions are—

(a)     that at all times in the tax year in question the amount outstanding on such advances made by the employer to the employee does not exceed £1,000,

(b)

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Common law offence of false imprisonment

Common law offence of false imprisonmentThe offence of false imprisonmentFalse imprisonment is a common law offence but it is more common as a civil action in tort (see Practice Note: False imprisonment).It is triable only on indictment. It may be classified in class 2A, 2B or 3 in accordance with

LEXISNEXIS

Introduction to passing off

Unlike many other countries, the UK has no unfair competition law. Brand owners seeking to prevent competitors from marketing ‘copycat’ products or using misleading advertising have to rely on a combination of different intellectual property rights. These rights include the common law right to

LEXISNEXIS

Negligent misstatement—defences and remedies

Negligent misstatement—defences and remediesThere are a number of ways in which liability for negligent misstatement may be avoided and/or limited. For details on founding a claim of negligent misstatement, see Practice Note: Negligent misstatement—founding a claim.For guidance generally on clauses

LEXISNEXIS

Rescission of a contract

Rescission of a contractWhat is rescission of a contract?The remedy of rescission is available to a party whose consent, in entering into a contract, has been invalidated in some way:•the effect of rescinding a contract is to extinguish it and restore the parties to their pre-contractual