Income Tax (Trading and Other Income) Act 2005

239 (1) Amend section 579 (statutory redundancy payments) as follows. U.K.

(2) In subsection (2)—

(a) after “payment is made” insert “ by a company ”,

(b) for “trade, profession or vocation”, in each place, substitute “ trade or profession ”, and

(c) for “the employer” substitute “ the company ”.

(3) In subsection (3)—

(a) after “payment is made” insert “ by a company ”, and

(b) for “the employer” substitute “ the company ”.

(4) In subsection (5) for “tax purposes” substitute “ corporation tax purposes ”.

(5) In subsection (6) for “the employer”, in both places, substitute “ the company ”.