Statutory Instruments
2016 No. 1250
Income Tax
The Sporting Testimonial Payments (Excluded Relevant Step) Regulations 2016
Made
19th December 2016
Laid before the House of Commons
20th December 2016
Coming into force
6th April 2017
The Commissioners for Her Majesty’s Revenue and Customs, in exercise of the powers conferred by section 554Y(1) and (3) of the Income Tax (Earnings and Pensions) Act 2003( 1 ), make the following Regulations:
Citation, commencement and interpretation
1. —(1) These Regulations may be cited as the Sporting Testimonial Payments (Excluded Relevant Step) Regulations 2016 and come into force on 6th April 2017.
(2) Terms used in these Regulations and in section 226E of the Income Tax (Earnings and Pensions) Act 2003( 2 ) (sporting testimonial payments) have the same meaning as in that section.
Disapplication of Chapter 2 of Part 7A: sporting testimonial payments
2. —(1)Chapter 2 of Part 7A of the Income Tax (Earnings and Pensions) Act 2003(employment income provided through third parties: treatment of relevant step for income tax purposes) does not apply by reason of a relevant step if the relevant step is the making of a sporting testimonial payment.
(2) Paragraph (1) applies in relation to a sporting testimonial payment made out of money raised by a sporting testimonial if—
(a) the sporting testimonial was made public on or after 25th November 2015, and
(b) the payment is made out of money raised by one or more relevant events or activities which take place on or after 6th April 2017.
Edward Troup
Justin Holliday
Two of the Commissioners for Her Majesty’s Revenue and Customs
19th December 2016
2003 c. 1 ; section 554Y was inserted by the Finance Act 2011 (c. 11) , Schedule 2, paragraph 1.
Section 226E was inserted by the Finance Act 2016 (c. 24) , Schedule 2, paragraph 1.