34. Income treated as capital
The following payments of income are treated as capital:
■income derived from capital (but see
17 above );
■income tax refunds;
■irregular charitable or voluntary payments (other than payments made from the specific trusts and funds bulleted in
8 above and payments from the Victims of Overseas Terrorism Compensation scheme);
■holiday pay payable more than four weeks after the employment ends or is interrupted;
■advance of earnings or a loan from an employer; and
■a bounty paid no more than once a year to a part-time firefighter, for coast rescue duties or running a lifeboat, or to a member of the reserve forces.