Income Tax (Earnings and Pensions) Act 2003 section 63

The benefits code

Section 63 defines the term "benefits code" and identifies the chapters of the Act that together form the framework for taxing employment-related benefits in kind.

• The benefits code comprises seven chapters covering expenses payments, vouchers and credit-tokens, living accommodation, cars, vans and related benefits, loans, and a residual charge for benefits not covered elsewhere.
• The term "benefits code" is used throughout the employment income parts of the Act as a convenient shorthand for this collection of charging provisions.
• The benefits code operates subject to section 554Z2(2), which concerns employment income provided through third-party arrangements.
• Several subsections have been repealed by Finance Act 2015, simplifying the original scope of the section.