Income Tax (Exemption of Minor Benefits) (Amendment) Regulations 2003 come into force

The Income Tax (Earnings and Pensions) Act 2003 provides that employment-related benefits given by an employer are chargeable to income tax. The Act provides that the Treasury may exempt minor benefits. The Regulations amend the Income Tax (Exemption of Minor Benefits) Regulations 2002 to remove the limit on the number of qualifying meals that an employer can provide to employees in any one year. The Regulations can be viewed on the OPSI website.