192F Exemption in respect of certain education-related payments.

(1) In this section—

“the Act” means the Student Support Act 2011;

“awarding authority” has the same meaning as it has in the Act; “grant” has the same meaning as it has in the Act;

“Minister” means the Minister for Education and Skills;

“student” has the same meaning as it has in the Act.

(2) This section applies to—

(a) a payment made by an awarding authority to or in respect of a student in accordance with a scheme or schemes of grants—

(i) made by the Minister under the Act, or

(ii) confirmed under section 29 of the Act,

or

(b) a payment made—

(i) in accordance with the law of a Member State (other than the State) ^[2]>or in the United Kingdom^<[2], and

(ii) which corresponds to a payment referred to in paragraph (a).

(3) A payment to which this section applies, which is made on or after 1 January 2020, shall be exempt from income tax and shall not be reckoned in computing total income for the purposes of the Income Tax Acts.

(4) A payment to which this section applies, which is made before 1 January 2020, shall be treated as if it was exempt from income tax in the year of assessment to which it relates and shall not be reckoned in computing total income for the purposes of the Income Tax Acts.