Part 3Trading income
Chapter 9Trade profits: other specific trades
Companies liable to pool betting duty
138Payments by companies liable to pool betting duty
1
This section applies for the purpose of calculating the profits of a trade if—
a
the company carrying on the trade is liable to pool betting duty,
b
there is a reduction in that duty, and
c
the company 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.