Paragraph 5 Payment to trustees of approved profit sharing schemes

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 85^f1 is amended as follows.

(2)

In subsection (1), for paragraph (b) (expenditure to be treated as expenses of management) substitute—

“(b)

if that company is a company with investment business, shall be treated as expenses of management deductible under section 75, or

(c)

if that company is one in relation to which section 76 applies, shall be treated as expenses payable for the purposes of that section.”.

Annotations

Footnotes

f1: Section 85 was amended by paragraph 1 of Schedule 7 to the Finance Act 1998.