33U.K.After section 76ZB insert—
“Counselling and retraining expensesU.K.
76ZCCounselling and other outplacement services
(1)This section applies if—
(a)a company carrying on life assurance business (“the employer”) incurs counselling expenses,
(b)the expenses are incurred in relation to a person (“the employee”) who holds or has held an office or employment under the employer, and
(c)the relevant conditions are met.
(2)The expenses are brought into account under section 76 as expenses payable (so far as they otherwise would not be).
(3)In this section “counselling expenses” means expenses incurred—
(a)in the provision of services to the employee in connection with the cessation of the office or employment,
(b)in the payment or reimbursement of fees for such provision, or
(c)in the payment or reimbursement of travelling expenses in connection with such provision.
(4)In this section “the relevant conditions” means—
(a)conditions A to D for the purposes of section 310 of ITEPA 2003 (employment income exemptions: counselling and other outplacement services), and
(b)in the case of travel expenses, condition E for those purposes.”