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Taylor staying at the Palace
Peter Taylor will not be in charge of the England Under-21 side when they face Holland on 14 November.
Bolton assistant boss Sammy Lee will stand in, with Taylor wanting to concentrate on his Crystal Palace job.
But Taylor should return to take charge for February's friendly against Spain and the 2007 European Championships.
"It is more important that I am at Crystal Palace, because our recent form has not been good. I could not go at this time," said Taylor.
"I love working with the Under-21 team and I'm very proud of our achievement in qualifying for next summer's European Championship.
"However, my first priority must be Crystal Palace and at this time I must commit all my time to the club.
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