Related Commentary  Related HMRC Manuals

55(1)  In calculating the profits of a trade, no deduction is allowed for expenses incurred–

(a)in making a payment if the making of the payment constitutes a criminal offence, or

(b)in making a payment outside the United Kingdom if the making of a corresponding payment in any part of the United Kingdom would constitute a criminal offence in that part.

55(2)  In calculating the profits of a trade, no deduction is allowed for expenses incurred in making a payment induced by a demand which constitutes–

(a)the offence of blackmail under section 21 of the Theft Act 1968 (c. 60) (England and Wales),

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