Section 10 Meaning of “taxable earnings” and “taxable specific income”
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(1) This section explains what is meant by “taxable earnings” and “taxable specific income” in the employment income Parts.
(2) “Taxable earnings” from an employment in a tax year are to be determined in accordance with [Chapters 4 and 5 of this Part]1.
Amendments
1 Substituted by Finance Act 2008 section 25 and Schedule 7 para 4(2), for the tax year 2008-09 and subsequent tax years.
(3) “Taxable specific income” from an employment for a tax year means the full amount of any specific employment income which, by virtue of Part 6 or 7 or any other enactment, counts as employment income for that year in respect of the employment.
(4) Subsection (3) is subject to Chapter 5A of this Part (certain specific employment income under Part 7: individuals to whom to remittance basis applies).
Amendments
Subs (4) inserted by Finance Act 2008 section 25 and Schedule 7 para 4(3) in relation to employment-related securities and employment-related securities options acquired on or after 6 April 2008.
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