Paragraph 1 Treatment of enemy debts written off during World War II

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch. para. 34 revoked by Taxation (International and Other Provisions) Act 2010 Sch. 10 Pt. 1
Sch. para. 32 revoked by Taxation (International and Other Provisions) Act 2010 Sch. 10 Pt. 9
Sch. para. 4 revoked by Taxation (International and Other Provisions) Act 2010 Sch. 10 Pt. 12
Sch. para. 36 revoked by Overseas Life Insurance Companies 2006 reg. 43(2) Sch. Pt. 2
Sch. para. 20 revoked by Corporation Tax Act 2010 Sch. 3 Pt. 1
Sch. para. 39 revoked by Corporation Tax Act 2010 Sch. 3 Pt. 1
Sch. para. 32 33 revoked by Corporation Tax Act 2010 Sch. 3 Pt. 2
Sch. para. 33 revoked by Taxation (International and Other Provisions) Act 2010 Sch. 10 Pt. 9

(1)

Amend the Finance Act 1950^f1 as follows.

(2)

In section 39(3) for paragraph (b) of the proviso substitute—

“(b)

the expenses shall not be allowed—

(i)

as a deduction under section 75(1) of the Income and Corporation Taxes Act 1988; or

(ii)

in the computation of an expenses deduction for the purposes of Step 1 of section 76(7) of that Act.”.

Annotations

Footnotes

f1: 1950 c. 15.