[554Q Exclusions: income arising from earmarked sum or asset]
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

[554Q  Exclusions: income arising from earmarked sum or asset]

[(1)     This section applies if—

(a)     a sum of money or asset (“sum or asset R”) is held by or on behalf of a person (“P”),

(b)     income arises from sum or asset R, and

(c)     when the income arises, it—

(i)     is received by or on behalf of P, and

(ii)     is the subject of

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