Section 63 | Armed forces redundancy schemes

(1)In section 411 of ITEPA 2003 (exception for payments and benefits for forces), the existing provision becomes subsection (1) and after that subsection insert—

(2)This Chapter does not apply to a payment or other benefit provided under a scheme established by an order under section 1(1) of the Armed Forces (Pensions and Compensation) Act 2004.

(2)The amendments made by subsection (1) have effect for the tax year 2006-07 and subsequent tax years.