Corporation Tax Act 2009 section 1296

Interpretation of sections 1290 to 1296

Section 1296 provides definitions of the key terms used throughout the employee benefit contributions rules in sections 1290 to 1296.

• An accident benefit scheme is an employee benefit scheme that only provides benefits where an employee is disabled or killed by an accident during their service as an employee.
• Qualifying expenses are costs incurred by a scheme manager in running the employee benefit scheme (other than providing benefits to employees), but only where those expenses would have been deductible for corporation tax purposes if the employer had incurred them directly.
• An employer-financed retirement benefits scheme has the same meaning as in the income tax employment legislation (ITEPA 2003), with certain exclusions disapplied.
• References to a company's employee include the holder of an office under that company, and the term employment is read accordingly.