Part 2Trading income

Chapter 4Trade profits: rules restricting deductions

Social security contributions

53Social security contributions

1

In calculating the profits of a trade, no deduction is allowed for any contribution paid by any person under—

a

Part 1 of the Social Security Contributions and Benefits Act 1992 (c. 4), or

b

Part 1 of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7).

2

But this prohibition does not apply to an employer's contribution.

3

For this purpose “an employer's contribution” means—

a

a secondary Class 1 contribution,

b

a Class 1A contribution, or

c

a Class 1B contribution,

within the meaning of Part 1 of the Social Security Contributions and Benefits Act 1992 or of the Social Security Contributions and Benefits (Northern Ireland) Act 1992.