Part 8Former employees: deductions for liabilities
Deductions F1in calculating net income
Annotations:
Amendments (Textual)
556AF2Deductible payments made pursuant to tax avoidance arrangements
No deduction may be made under section 555 if the deductible payment is made in pursuance of arrangements the main purpose, or one of the main purposes, of which is the avoidance of tax.
Words in s. 555 cross-heading substituted (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 440(5) (with Sch. 2)