Section 404A Amounts charged to be treated as highest part of total income
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Amendments
Section 404A inserted by Income Tax Act 2007 section 1027 and Schedule 1 para 437 from 6 April 2007.
(1) A payment or other benefit which counts as a person’s employment income as a result of section 403 is treated as the highest part of the person’s total income.
(2) Subsection (1) has effect for all income tax purposes except the purposes of sections 535 to 537 of ITTOIA 2005 (gains from contracts for life insurance etc: top slicing relief).
(3) See section 1012 of ITA 2007 (relationship between highest part rules) for the relationship between—
(a) the rule in subsection (1), and
(b) other rules requiring particular income to be treated as the highest part of a person’s total income.
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