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Income Tax (Trading and Other Income) Act 2005

Income Tax (Trading and Other Income) Act 2005

2005 CHAPTER 5

Commentary on Sections

Part 2: Trading income

Chapter 4: Trade profits: rules restricting deductions
Employee benefit contributions
Section 55: Crime-related payments

231.This section prohibits any deduction for expenses incurred in making a payment:

  • the making of which is a criminal offence, or which would be a criminal offence if the payment was made in the United Kingdom; or

  • which is made in response to a demand, the making of which is a criminal offence.

232.The section is based on section 577A of ICTA.

233.It overrides any provision which otherwise allows a deduction to be made in calculating the profits of a trade. See section 31(1)(b) of this Act.

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