Income Tax (Earnings and Pensions) Act 2003 section 256

Meaning of "individual learning account training"

Section 256 defines the term "individual learning account training" as used in the exemption provisions of this chapter.

• The term "individual learning account training" has a specific statutory definition for the purposes of the tax exemption.
• It covers training or education that qualifies for grants under the Learning and Skills Act 2000 (applicable in England and Wales).
• It also covers training or education that qualifies for grants under the Education and Training (Scotland) Act 2000.
• Both sets of regulations authorise grants for approved forms of learning, and only training eligible under these schemes falls within the definition.