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Finance Act 1946
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- UK Public General Acts
- 1946 c. 64
- PART III
- Section 29
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29Relief for payments for technical education.
(1)Notwithstanding anything in Rule 3 of the Rules applicable to Cases I and II of Schedule D, where a person carrying on a trade makes any payment to be used for the purposes of technical education related to that trade at any university or university college, or at any such technical college or other similar institution as may for the time being be approved for the purposes of this section by the Minister of Education, the payment may be deducted as an expense in computing the profits or gains of the trade for the purposes of income tax.
(2)For the purposes of this section, technical education shall be deemed to be related to a trade if, and only if it is technical education of a kind specially requisite for persons employed in the class of trade to which that trade belongs.
(3)In relation to technical colleges or other institutions in Scotland or Northern Ireland, this section shall have effect as if for the reference to the Minister of Education there were substituted references, in the case of Scotland, to the Secretary of State, and, in the case of Northern Ireland, to the Ministry of Education for Northern Ireland.
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