C1Part 4Employment income: exemptions
Chapter 7Exemptions: removal benefits and expenses
Benefits and expenses within this Chapter
279Disposal benefits and expenses
1
This section applies if the employee has an interest in the former residence and because of the change of residence it is disposed of or is intended to be disposed of.
2
The following benefits are within this section—
a
legal services connected with the disposal or intended disposal, including legal services connected with the redemption of a related loan,
b
the waiving of any penalty for redeeming a related loan for the purpose of the disposal or intended disposal,
c
the services of an estate agent or auctioneer engaged in the disposal or intended disposal,
d
services connected with the advertisement of the disposal or intended disposal,
e
the disconnection, for the purpose of the disposal or intended disposal, of any utility serving the former residence, and
f
services connected with maintaining, insuring, or preserving the security of, the former residence at any time when it is unoccupied pending the disposal or intended disposal.
3
The following expenses are within this section—
a
sums paid for any services within subsection (2)(a), (c), (d) or (e),
b
any penalty for redeeming a related loan for the purpose of the disposal or intended disposal,
c
rent paid in respect of the former residence at any time when it is unoccupied pending the disposal or intended disposal, and
d
expenses of maintaining, insuring, or preserving the security of the former residence at any time when it is unoccupied pending the disposal or intended disposal.
4
In this section references to the employee having an interest in a residence include—
a
one or more members of the employee’s family or household having such an interest, or
b
the employee and one or more members of the employee’s family or household having such an interest.
5
A loan is a “related loan” for this purpose if—
a
it was raised to obtain an interest in the former residence, or
b
it is secured on such an interest, or
c
part of it was so raised and the rest of it is so secured.
Pt. 4 modified (10.6.2021) by Finance Act 2021 (c. 26), s. 26(3)