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Income Tax (Trading and Other Income) Act 2005
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69Payments for restrictive undertakingsU.K.
This section has no associated Explanatory Notes
(1)In calculating the profits of a trade, a deduction is allowed for a payment—
(a)which is treated as earnings of an employee by virtue of section 225 of ITEPA 2003 (payments for restrictive undertakings), and
(b)which is made, or treated as made for the purposes of section 226 of that Act (valuable consideration given for restrictive undertakings), by the person carrying on the trade.
(2)The deduction is allowed for the period of account in which the payment—
(a)is made, or
(b)is treated as made for the purposes of section 226 of ITEPA 2003.
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