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Finance Act 2007

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Changes over time for: Section 67

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Point in time view as at 06/04/2009.

Changes to legislation:

Finance Act 2007, Section 67 is up to date with all changes known to be in force on or before 03 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

67Unpaid remuneration and employee benefit contributionsU.K.

(1)Section 31 of ITTOIA 2005 (relationship between rules prohibiting and allowing deductions: trading income) is amended as follows.

(2)In subsection (1) (priority of relevant permissive rules over relevant prohibitive rules), in paragraph (b) (sections to which that priority rule is subject), for “sections 48 (car or motor cycle hire) and” substitute “ section 36 (unpaid remuneration), section 38 (employee benefit contributions), section 48 (car or motor cycle hire) and section ”.

(3)In subsection (3) (meaning of “relevant prohibitive rule”), after “sections” insert “ 36, 38, ”.

(4)Section 274 of ITTOIA 2005 (provision corresponding to section 31 of that Act in case of property income) is amended as follows.

(5)In subsection (1)(b), for “sections 48 (car or motor cycle hire) and” substitute “ section 36 (unpaid remuneration), section 38 (employee benefit contributions), section 48 (car or motor cycle hire) and section ”.

(6)In subsection (3), after “sections” insert “ 36, 38, ”.

(7)The amendments made by this section have effect for the tax year 2007-08 and subsequent tax years.

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