Paragraph 23 Business entertaining expenses

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)

Section 577^f1 is amended as follows.

(2)

In subsection (1)(a) (expenses not to be included in computing expenses of management in respect of which may be given under the Tax Acts)—

(a)

after “and such expenses” insert “(i)”, and

(b)

after “the Tax Acts;” insert—

“and

(ii)

shall not be brought into account under section 76 as expenses payable”.

Annotations

f1: Section 577 has been amended: relevant amendments are those made by paragraph 1 of Schedule 7, and Part III(4) of Schedule 27 to the Finance Act 1998, paragraph 51 of Schedule 2 to the Capital Allowances Act 2001 and paragraph 62 of Schedule 6 to ITEPA.