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HMRC internal manual

Employment Income Manual

Termination payments and benefits: year for which the payment or benefit is income

Section 403(1) and (2) ITEPA 2003A payment or benefit within Section 401 ITEPA 2003 is employment income (see

EIM00510) of the year in which it is received (as defined in EIM13110).

If the payment or benefit is received before 6 April 1998, see SE13100 to determine the year.