# Capital Gains Tax Act 1979 (repealed 6.3.1992), Section 141: Disallowance of insurance premiums as expenses.

Extent: E+W+S+N.I.

Without prejudice to the provisions of section 33 above (exclusion of expenditure by reference to tax on income), there shall be excluded from the sums allowable as a deduction in the computation under Part II of Chapter II above of the gain accruing to a person on the disposal of an asset any premiums or other payments made under a policy of insurance of the risk of any kind of damage or injury to, or loss or depreciation of, the asset.

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Source: https://www.legislation.gov.uk/ukpga/1979/14/section/141 (the official version)
Page: https://openlegislation.uk/capital-gains-tax-act-1979-repealed-631992/section-141
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.