865(1)  This section applies if, in calculating profits or other income of a period of account for income tax purposes–

(a)an amount is charged in the accounts for the period in respect of employees' remuneration, and

(b)a deduction for the remuneration would otherwise be allowable for the period.

865(2)  For this purpose “profits or other income”  does not include the profits of–

(a)a trade, profession or vocation, or

(b)a property business,

but see subsection (6).

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