Part 2Trading income
Chapter 11Trade profits: other specific trades
Persons liable to pool betting duty
162Payments by persons liable to pool betting duty
(1)
This section applies for the purpose of calculating the profits of a trade if—
(a)
the person carrying on the trade is liable to pool betting duty,
(b)
there is a reduction in that duty, and
(c)
the person makes a qualifying payment in consequence of that reduction.
(2)
A qualifying payment is one—
(a)
made in order to meet (directly or indirectly) capital expenditure incurred by any person in improving the safety or comfort of spectators at a ground to be used for the playing of association football, or
(b)
made to trustees established mainly for the support of athletic sports or athletic games but with power to support the arts.
(3)
A deduction is allowed for the qualifying payment.