HMRC internal manual

Banking Manual

BKM406450 - Banking surcharge: targeted anti-avoidance rule: meaning of deductible amount

A deductible amount is:

  • an expense of a trade, other than R&D allowances treated as expenses
  • an expense of UK or overseas property trade
  • an expense of management
  • a non-trading debit – loan relationships
  • a non-trading debit – intangible fixed assets