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HMRC internal manual

Employment Income Manual

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HM Revenue & Customs
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Termination payments and benefits: Section 401 ITEPA 2003: £30,000 threshold: general

Sections 403 to 404 ITEPA 2003Section 403(1) ITEPA 2003 states that a payment or benefit within Section 401(1) ITEPA 2003 (see

EIM13000) counts as employment income (see EIM00510) only to the extent that it exceeds £30,000. The £30,000 figure is described as a threshold.

Some payments and benefits must be added together before applying the threshold, producing an aggregate. EIM13530 explains when this must be done.