866.This section places a limit on the relief that can be given under this Chapter in relation to a taxed receipt. It is based on section 37(9) of ICTA. The corresponding provision for income tax is in section 295 of ITTOIA.
867.The section restricts total relief in respect of a taxed receipt by way of:
reductions under the additional calculation rule in section 228; and
deductions under section 232.
868.The total relief is restricted to the amount of the taxed receipt after the following (so far as given by reference to the taxed receipt):
any reductions or deductions under sections 288 or 292 of ITTOIA (which correspond to sections 228 and 232 respectively); and
any deductions under section 63 (trading expense), or under section 61 of ITTOIA (which corresponds to section 63).
See Change 49 in Annex 1.