Section 347 Payments made after leaving the employment
United Kingdom
(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).
Annotations
Textual amendments
- F1
Words 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)
Notes on Chapter 2
Modifications
- C1
Pt. 5 Ch. 2 restricted (6.4.2006) by Finance Act 2004 (c. 12), s. 284(1), Sch. 33 para. 1(5) (with Sch. 36)