(This archived guidance relates to HMRC discretionary
practice before the 6th April 2006. For current guidance on
Registered Pension Schemes see the Registered Pension Schemes
Manual)
(This text has been withheld because of exemptions in the
Freedom of Information Act 2000)
[PN Glossary]
Fluctuating emoluments are any part of the employee's pay
which are not paid on a fixed basis and are additional to the basic
wage or salary. They include profit related pay, overtime,
commission, bonuses or benefits in kind as long as they are
assessable under Schedule E. Non-taxable benefits in kind should
not normally be included in pensionable remuneration or final
remuneration but see
PSI6.4.1for the one exception to this
rule. Directors' fees may rank as fluctuating emoluments according
to the basis on which they are voted (see
PSI6.4.25.).
