[312B “Qualifying bonus payments”]
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

[312B  “Qualifying bonus payments”]

[(1)     A payment made by an employer (“E”) to an employee or former employee is a qualifying bonus payment if—

(a)     it does not consist of regular salary or wages,

(b)     it is awarded under a scheme which meets the participation requirement and the equality requirement (see section 312C),

(c)     E meets the trading requirement (see section 312D) throughout the qualifying period,

(d)     E meets the indirect employee-ownership requirement (see section 312E)

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Schemes of arrangement—procedure

Schemes of arrangement—procedureProduced with input from Rebecca Cousin of Slaughter and May on market practice.This Practice Note looks at the detailed procedures to be followed to implement the acquisition by a buyer (offeror) of all the shares, or one or more classes of shares, in a company

LEXISNEXIS

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency

The pari passu principle and collection remedies for the office-holder—the position under the Insolvency (England and Wales) Rules 2016The primary function of office-holders in personal and corporate insolvency is to collect in the assets belonging to a company or individual and to distribute these

LEXISNEXIS

Guarantee payments

Guarantee paymentsThis Practice Note explains the right to a guarantee payment, which provides limited pay protection for certain employees who are laid off or put on short-time working.In practice the question whether a guarantee payment is due will usually arise in the case of hourly paid or piece

LEXISNEXIS

Forming enforceable contracts—consideration

Forming enforceable contracts—considerationThis Practice Note examines the doctrine of consideration and the key role it plays in English law in determining whether a contract is enforceable.A promise will only be capable of being contractually enforced if it is either made in a deed or made in