This section has no associated Explanatory Notes
7U.K.In section 39 (exclusion of expenditure by reference to tax on income), after subsection (3) insert—
“(3A)This section is not to be taken as excluding, from the sums allowable under section 38 as a deduction in the computation of the gain, expenditure allowable as a deduction in computing a return on which income tax is charged under Chapter 2A of Part 4 of ITTOIA 2005 (disguised interest) (but see section 381D of that Act).”