Point in time view as at 17/07/2013.
Income Tax (Earnings and Pensions) Act 2003, Section 347 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)A deduction for a payment is not allowed under section 346 if—
(a)the employee has ceased to hold the employment, and
(b)the payment is made after the day on which the employee ceased to hold the employment.
(2)If subsection (1) applies, see section 555 (former employee entitled to deduction [F1in calculating net income]).
Textual Amendments
F1Words in s. 347(2) substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 435 (with Sch. 2)
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