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(1)No liability to income tax arises by virtue of the payment or reimbursement of expenses which—
(a)are incidental to, and incurred wholly and exclusively as a result of, an employment-related asset transfer, and
(b)are of a kind not normally met by the transferor.
(2)There is an “employment-related asset transfer” if—
(a)an asset or the beneficial interest in an asset is transferred to an employee’s employer or a person nominated by the employer, and
(b)the right or opportunity to make the transfer arose by reason of the employment.
(3)In this section references to a transfer are to a sale or any other kind of disposal.