Income Tax (Earnings and Pensions) Act 2003 (c. 1)

Part 8 U.K. Former employees: deductions for liabilities

Deductions [F1 in calculating net income] U.K.

Textual Amendments

F1 Words in s. 555 cross-heading substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 440(5) (with Sch. 2)

[F2 556A Deductible payments made pursuant to tax avoidance arrangements U.K.

No deduction may be made under section 555 if the deductible payment is made in pursuance of arrangements the main purpose, or one of the main purposes, of which is the avoidance of tax.]

Textual Amendments

F2 S. 556A inserted (with effect in accordance with s. 67(4) of the amending Act) by Finance Act 2009 (c. 10), s. 67(3)