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(1)The following section shall be inserted after section 577 of the Taxes Act 1988—
(1)In computing profits or gains chargeable to tax under Schedule A or Schedule D, no deduction shall be made for any expenditure incurred in making a payment the making of which constitutes the commission of a criminal offence.
(2)Such expenditure shall not be included in computing any expenses of management in respect of which relief may be given under the Tax Acts.”
(2)This section shall apply in relation to expenditure incurred on or after 11th June 1993.
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