Commentary on Sections Example 3 Ne = £5,000; Da = 183; De = 183; Smg = 0 Section 324: Small gifts from third parties
1366.This section derives from ESC A70A. It provides an exemption from income tax in respect of certain small gifts from third parties. Legislating the concession is a minor change to the law. See Change 59 in Annex 1.
1367.The conditions for the exemption are in similar terms to the entertainment exemption in section 265. The reasons for it are the same, namely to remove the compliance problems if the conditions in subsections (2) to (6)  are met. Those conditions include a limit on value of the gifts which may be varied by the Treasury power in section 716.
1368.The concession also extends to non-cash vouchers and credit-tokens. That aspect is dealt with in section 270.