Section 1238 — Corporation Tax Act 2009: Retraining courses

Retraining courses 1238 1 This section applies if—

a a company with investment business (“ the employer ”) incurs retraining course expenses, b they 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 treated for the purposes of Chapter 2 as expenses of management.

3 In this section— “ retraining course expenses ” means expenses incurred in the payment or reimbursement of retraining course expenses within the meaning given by section 311(2) of ITEPA 2003, and “ the relevant conditions ” means— the conditions in subsections (3) and (4) of section 311 of ITEPA 2003 (employment income exemptions: retraining courses),

and in the case of travel expenses, the conditions in subsection (5) of that section.

4 If—

a an employer's liability to corporation tax for an accounting period is determined on the assumption that a deduction for expenditure is allowed by virtue of this section, and b the deduction would not otherwise have been allowed, subsections (2) to (6) of section 75 (retraining courses: recovery of tax) apply.