Non-cash consideration may be given to an employee for entering
into a restrictive covenant. The legislation applies as if a cash
sum equal to the value of the asset had been paid. See example
EIM03625.
Assets transferred on or after 25 May 1994 are likely to be
caught by the legislation at Section 696 to 702 ITEPA 2003.
Tradable assets or readily convertible assets must be subjected to
PAYE by the provider. See
EIM11800 onwards.
