Related Commentary  Related HMRC Manuals

77(1)  This section applies if–

(a)the payment is in respect of the employee's employment wholly in the employer's trade, and

(b)no deduction would otherwise be allowable for the payment.

77(2)  In calculating the profits of the trade, a deduction is allowed under this section for the payment.

77(3)  The deduction under this section for an approved contractual payment must not exceed the amount which would have been due to the employee if a redundancy payment had been payable.

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