Finance Act 2012

Finance Act 1950 U.K.

64 U.K. FA 1950 is amended as follows.

65 U.K. In section 39(3)(b)(ii) (treatment for taxation purposes of enemy debts etc written off during the war), for “an expenses deduction for the purposes of Step 1 of section 76(7) of the Income and Corporation Taxes Act 1988” substitute “ ordinary BLAGAB management expenses for the purposes of section 76 of the Finance Act 2012 ”.