Allowable deductions

Annual payments of capital or revenue nature

Corporation tax

Payments made wholly and exclusively for the purpose of trade

Anti-avoidance provisions

Capital gains tax

Class 1 exclusion

Deductions

Deemed payment by employers

Discounted options scheme for employees in financial services industry

Disposals, chargeable gains

Earnings

Earnings giving rise to deduction of income tax and National Insurance contributions

EFRBS (comparison with)

Employment-related loans

Generally

Inheritance tax

Exempt transfers to

Generally

Meaning of employee trusts

Money-box companies, discounted options scheme

National Insurance contributions, payment following sale of sponsoring company

PAYE and NIC settlement agreement between employer and HMRC

Payment made after employment ceased

Payments out of

Postponement of deduction of payments until payment of relevant emoluments

Property leaving the fund

Qualifying benefits, provision of

Qualifying expenses

Subsequent winding up of sub-trusts

Sums distributed to be paid net of amounts paid to HMRC under settlement agreement

Transfer of asset to employee