BPTM3220 - Relevant remuneration: chargeable relevant remuneration: the threshold
Paragraph 1(3) of Schedule 1 to FA 2010
Not all relevant remuneration awarded during the chargeable period to (or in respect of) a relevant banking employee attracts a charge to BPT. There is a £25,000 threshold that applies for each employee.
Relevant remuneration is only 'chargeable relevant remuneration' to the extent that its amount exceeds £25,000.