Part 4Employment income: exemptions

Chapter 7Exemptions: removal benefits and expenses

Benefits and expenses within this Chapter

277Acquisition benefits and expenses

1

This section applies if an interest in the employee’s new residence is acquired by—

a

the employee,

b

one or more members of the employee’s family or household, or

c

the employee and one or more members of the employee’s family or household.

2

The following benefits are within this section—

a

legal services connected with the acquisition of the interest, including legal services connected with any loan raised by the employee to acquire it,

b

the waiving of any procurement fees connected with any such loan,

c

the waiving of any amount payable in respect of insurance effected to cover risks incurred by the maker of any such loan because the loan equals the whole, or a substantial part, of the value of the interest,

d

any survey or inspection of the residence undertaken in connection with the acquisition, and

e

the connection of any utility serving the new residence for use by the employee or by the employee and one or more members of the employee’s family or household.

3

The following expenses are within this section—

a

sums paid for any services within subsection (2)(a), (d) or (e),

b

any procurement fees connected with any loan raised by the employee to acquire the interest,

c

the costs of any insurance within subsection (2)(c),

d

fees payable to an appropriate registry or appropriate register in connection with the acquisition, and

e

stamp duty F1or stamp duty land tax charged on the acquisition.

4

In this section references to a loan raised by the employee include a loan raised by—

a

one or more members of the employee’s family or household, or

b

the employee and one or more members of the employee’s family or household.

5

In this section—

  • “appropriate registry” means—

    1. a

      Her Majesty’s Land Registry,

    2. b

      the Land Registry in Northern Ireland, or

    3. c

      the Registry of Deeds for Northern Ireland, and

  • “appropriate register” means any register under the management and control of the Keeper of the Registers of Scotland.