SCHEDULE 2 Optional Remuneration Arrangements
Finance Act 2017 (2017 c 10) | Legislation

SCHEDULE 2 Optional Remuneration Arrangements

Section 7

Optional remuneration arrangements

1

In Part 3 of ITEPA 2003 (employment income: earnings and benefits etc treated as earnings), in Chapter 2 (taxable benefits: the benefits code), after section 69 insert—

“69A Optional remuneration arrangements

(1)     Subsections (2) to (7) have effect for the purposes of the benefits code.

(2)     A benefit provided for an employee is provided under “optional remuneration arrangements†so far as it is provided under arrangements of type A or B (regardless of whether those arrangements are made before or after the beginning of the person's employment).

(3)     “Type A arrangements†are arrangements under which, in return for the benefit, the employee gives up the right (or a future right) to receive an amount of earnings within Chapter 1 of Part 3.

(4)     “Type B arrangements†are arrangements (other than type A arrangements) under which the employee agrees to be provided with the benefit rather than an amount of earnings within Chapter 1 of Part 3.

(5)     A benefit provided for an employee is to be regarded as provided under optional remuneration arrangements (whether of type A or type B) so far as it is just and reasonable

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