SCHEDULES
SCHEDULE 2Transitionals and savings etc.
Part 3Trading income
Expenses connected with patents, designs and trade marks
26
(1)
This paragraph applies if—
(a)
fees have been incurred, but not paid, for the purposes of a trade in connection with any of the matters mentioned in section 89 or 90,
(b)
the fees were incurred in a period of account no part of which falls in the basis period for the tax year 2005-06 or a subsequent tax year, and
(c)
the fees have not been taken into account in calculating the profits of the trade of any tax year.
(2)
A deduction is allowed for the fees in calculating the profits of the period of account in which they are paid.