FTTTx 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 andpound;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 as compensation for loss of the employment – held the source of the payment was the contractual provision in the contract of employment for payment for service under notice or in lieu of notice and the payment was therefore ‘earnings’ within s.62 ITEPA – appeal dismissed
John Walters QC
[2012] UKFTT 431 (TC)
Bailii
England and Wales
Income Tax
Updated: 31 October 2021; Ref: scu.462829