Related Commentary  

155(1)  This section applies for the purpose of calculating the profits of a trade.

155(2)  A deduction is allowed for any sum–

(a)spent by the person carrying on the trade in paying a levy, or

(b)paid by that person as a result of an award of costs under costs rules,

so far as it is not otherwise allowable.

155(3)  A payment made to the person carrying on the trade as a result of a repayment provision is brought into account as a receipt.

155(3A)  For the purposes of this section “costs rules” means–

(a)rules made under section 230 of FISMA 2000, or

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.