Income Tax (Earnings and Pensions) Act 2003

The Income Tax (Earnings and Pensions) Act 2003 is a UK law that governs how income and pensions are taxed. It clarifies the rules for calculating taxable earnings, including salaries, bonuses, and benefits from employment, as well as pension income. The Act also includes provisions for tax reliefs and allowances, which reduce the amount of tax individuals pay. Its primary aim is to ensure a fair and efficient tax system, making it easier for individuals and employers to understand and comply with their tax obligations related to earnings and pensions.