Sums paid to non-approved retirement benefit schemes and other trust funds will normally be deductible, provided they are of a revenue nature and that the benefits are chargeable to income tax on the employee. (See, however, ¶707-990 for details of the restriction that applies to the deduction of certain payments to employee benefit trusts.) A sum so paid is deductible as an expense of the trade in computing the taxable profits of that trade.

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.