Related Commentary  Related HMRC Manuals

79(1)  This section applies if the employer permanently ceases to carry on a trade or part of a trade and makes a payment to the employee in addition to–

(a)the redundancy payment, or

(b)if an approved contractual payment is made, the amount that would have been due if a redundancy payment had been payable.

79(2)  If, in calculating the profits of the trade–

(a)no deduction would otherwise be allowable for the additional payment, but

(b)a deduction would be allowable for it if the employer had not permanently ceased to carry on the trade or the part of the trade,

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