There are currently no known outstanding effects for the Finance Act 2020, Section 14.
(1)After section 299A of ITEPA 2003 insert—
(1)No liability to income tax arises in respect of a payment to a person who holds a voluntary office if the payment is in respect of reasonable expenses incurred in carrying out the duties of that office.
(2)It does not matter whether—
(a)the payment is an advance payment or a reimbursement;
(b)the person who makes the payment is the person with whom the office is held.
(3)Subsections (2) and (3) of section 299A apply for the purposes of subsection (1) of this section as they apply for the purposes of subsection (1) of that section.”
(2)In section 299A(3)(a) of ITEPA 2003 (voluntary office-holders: compensation for lost employment income) after “payment” insert “ (whether an advance payment or a reimbursement) ”.
(3)The amendments made by this section have effect for the tax year 2020-21 and subsequent tax years.
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