What does not count as relevant earnings?
Appendix 3 of the IR76 Personal Pension/Stakeholder guidance notes gives details of what counts as relevant earnings. Full details are as follows; • income from an employment which is pensioned under an occupational pension scheme (section 645 of ICTA 1988) • redundancy and termination payments chargeable to tax under section 148 of ICTA 1988 (golden handshakes) • income arising from the acquisition or disposal of shares or an interest in shares or from a right to acquire shares • emoluments received by an individual as a controlling director of an investment company • earnings falling within section 644(6A) of ICTA 1988 • pensions (a pension is not remuneration from an office or employment) • all benefits paid by the state, including Invalid Care Allowance, Working Family Tax Credit and Disabled Persons Tax Credit • grants paid by local authorities to foster parents • Statutory Sick Pay and Statutory Maternity Pay paid by the DWP • except for directors, benefits in kind where earnings
