Commentary on Sections Example 3 £150(Pe) – £50(E) = £100 Section 234: The approved amount for passenger payments
957.This section gives details of the approved amount for passenger payments. The section derives from paragraph 5 of Schedule 12AA to ICTA.
958.Subsection (1) gives a formula to calculate the approved amount for passenger payments.
959.Subsection (2) explains how the calculation is affected if there are times in the tax year when two or more passengers for whom the employee is entitled to passenger payments are carried concurrently.
960.Subsection (3) provides the Treasury with powers to make regulations to alter the rate in subsection (1).