- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
3.—(1) In the Income Tax (Trading and Other Income) Act 2005(1), after section 57 insert—
(1) In calculating the profits of a trade, a deduction is allowed for any reasonable expenses incurred on food or drink for consumption by the trader at a place to which the trader travels in the course of carrying on the trade, or while travelling to a place in the course of carrying on the trade, if conditions A and B are met.
(2) Condition A is met if—
(a)a deduction is allowed for the expenses incurred by the trader in travelling to the place, or
(b)where the expenses of travelling to the place are not incurred by the trader, a deduction would be allowed for them if they were.
(3) Condition B is met if—
(a)at the time the expenses are incurred on the food or drink, the trade is by its nature itinerant, or
(b)the trader does not travel to the place more than occasionally in the course of carrying on the trade and either—
(i)the travel in connection with which the expenses are incurred on the food or drink is undertaken otherwise than as part of the trader’s normal pattern of travel in the course of carrying on the trade, or
(ii)the trader does not have such a normal pattern of travel.”.
(2) The amendment made by this article has effect for the tax year 2009-10 and subsequent tax years.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: