Finance Act 2005 (c. 7)

Part 2 Income tax, corporation tax and capital gains tax

Chapter 2 Personal taxation

Taxable benefits

18 Extension of outplacement services etc exemption: part-time employees

(1) ITEPA 2003 is amended as follows.

(2) In section 310 (counselling and other outplacement services) in subsection (4) (person to have been employed full-time in the employment which is ceasing for a specified period) omit “full-time”.

(3) In section 311 (retraining courses) in subsection (3) (conditions to be satisfied in relation to the course)—

(a) at the end of paragraph (b) insert “and”;

(b) in paragraph (c) (course to last no more than one year) for “one year” substitute “two years”;

(c) omit paragraph (d) (employee to attend the course on a full-time or substantially full-time basis) and the word “and” before it.

(4) In that section, in subsection (4)(c) (person to be employed full-time in the employment which is ceasing for a specified period) omit “full-time”.

(5) This section has effect in relation to the year 2005-06 and subsequent years of assessment.