Counselling and retraining expenses

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.