Introduction Details of the Section
2.Subsection (1) amends section 291 of ITEPA by substituting a new section 291(2)(a).
3.New section 291(2)(a) exempts from the charge to income tax  on earnings resettlement payments made under section 5(1) of the Parliamentary Standards Act 2009 (PSA 2009) in connection with a person’s ceasing to be a member of the House of Commons.
4.Subsection (2) provides that the amendment has retrospective effect and applies in relation to payments made on or after 1 April 2012.