Part 2

Trading income
Chapter 4

Trade profits: rules restricting deductions

Social security contributions

Social security contributions
53
1
In calculating the profits of a trade, no deduction is allowed for any contribution paid by any person under—
a
Part 1 of the Social Security Contributions and Benefits Act 1992 (c. 4), or
b
Part 1 of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (c. 7).
2
But this prohibition does not apply to an employer's contribution.
3
For this purpose “an employer's contribution” means—
a
a secondary Class 1 contribution,
b
a Class 1A contribution, or
c
a Class 1B contribution,
within the meaning of Part 1 of the Social Security Contributions and Benefits Act 1992 or of the Social Security Contributions and Benefits (Northern Ireland) Act 1992.