Point in time view as at 02/12/2019.
Income Tax (Earnings and Pensions) Act 2003, Cross Heading: Expenses incidental to sale etc. of asset is up to date with all changes known to be in force on or before 06 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(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.
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