1301 Restriction of deductions for annual payments
Corporation Tax Act 2009 (2009 c 4) | Legislation

Miscellaneous

1301  Restriction of deductions for annual payments

(1)     In calculating a company's income from any source, no deduction is allowed for an annual payment which meets the conditions in subsections (2) to (6).

(2)     The payment must be a payment charged to—

(a)     income tax under Part 5 of ITTOIA 2005 otherwise than as relevant foreign income, or

(b)     corporation tax under Chapter 7 of Part 10 (annual payments not otherwise charged).

(3)     The payment

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