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—

(a)

Her Majesty’s Land Registry,

(b)

the Land Registry in Northern Ireland, or

(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.