Finance Act 2009, Section 67 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)ITEPA 2003 is amended as follows.
(2)In section 346 (deduction for employee liabilities), after subsection (2) insert—
“(2A)Nor is a deduction allowed for a payment which falls within paragraph A, B or C if the payment is made in pursuance of arrangements the main purpose, or one of the main purposes, of which is the avoidance of tax.”
(3)After section 556 insert—
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.”
(4)The amendments made by this section have effect in relation to payments made on or after 12 January 2009 (irrespective of when the arrangements are made).
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