The benefits code: directors excluded
Section 216(2) and (3) ITEPA 2003
This section only applies to 2015/16 and earlier.
Director’s employment excluded from the benefits code
A director’s employment is deemed to be an excluded employment if the following conditions are satisfied:
- the earnings are less than £8,500 a year (EIM20101 onwards) and
- the director is either
- the director does not have a material interest in the company (EIM20212) and
- any other employment the director holds with employers under the same control also satisfies the three previous conditions.
“Control” has the meaning given to it by Section 69 ITEPA 2003 (EIM20213).