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Corporation Tax Act 2009

Section 1298: Business entertainment and gifts

3319.This section and the following two sections deal with expenditure on business entertainment or gifts. It is based on section 577 of ICTA. The corresponding rule for income tax is in sections 45 and 867 of ITTOIA.

3320.Section 577 of ICTA denies a deduction for certain expenses “in computing profits chargeable to corporation tax under Schedule D”. Profits chargeable to corporation tax under Schedule D include profits of a business which is neither a trade nor a property business. And section 577(7)(b) of ICTA indicates that references to a trade, for the purposes of the section, include references to a business.

3321.The exceptions to the general rules are not limited to trades. See Change 93 in Annex 1.

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