INCOME TAX – payment in consequence of the termination of contract of employment – whether within Ch.3, Pt. 6, ITEPA and subject to exemption from tax for the first pounds 30,000 under s.403 ITEPA, or ‘earnings’ within s. 62, ITEPA – contractual provision in the contract of employment for payment in lieu of notice – whether payment made pursuant to that provision or alternatively for settling disputes arising in relation to its application – held the source of the payment was the contractual provision in the contract of employment for payment in lieu of notice and the payment was therefore ‘earnings’ within s.62 ITEPA – appeal dismissed
[2012] UKFTT 313 (TC)
Bailii
England and Wales
Updated: 31 October 2021; Ref: scu.462677