C1Part 4Employment income: exemptions
Annotations:
Modifications etc. (not altering text)
Chapter 11Miscellaneous exemptions
Expenses incidental to sale etc. of asset
326Expenses incidental to transfer of a kind not normally met by transferor
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.
Pt. 4 modified (10.6.2021) by Finance Act 2021 (c. 26), s. 26(3)