88 Payments to Export Credit Guarantee Department.U.K.
M1Any sums paid by a person to the Export Credits Guarantee Department under an agreement entered into under arrangements made by the Secretary of State in pursuance of section 11 of the M2Export Guarantees and Overseas Investment Act 1978, or with a view to entering into such an agreement, shall be included—
(a)in the sums to be deducted in computing for the purposes of Case I or Case II of Schedule D the [F1profits] of any trade, profession or vocation carried on by that person; or
(b)if that person is an investment company or a company in the case of which section 75 applies by virtue of section 76, in the sums to be deducted as expenses of management in computing the company’s profits for the purposes of corporation tax;
whether or not they would fall to be so included apart from this section.
Textual Amendments
F1Words in s. 88(a) substituted (31.7.1998) by Finance Act 1998 (c. 36), s. 46(3)(a)(b), Sch. 7 para. 1
Marginal Citations
M1SOURCE-1972 s. 124(1)