Taxes Consolidation Act 1997 Schedule 3

Claim for exemption

Schedule 3 provides for relief against income tax on termination payments where a valid claim for exemption has been made.

• Relief under this Schedule applies to income tax charged on termination payments under section 123.
• The relief is only available where a formal claim is made under section 201.
• The claim asserts that part of the termination payment qualifies for exemption from tax.
• The Schedule sets out the basis on which the relief is to be calculated and allowed.