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HMRC internal manual

Business Income Manual

Deductions: general: permissive rules

The following table summarises the general provisions which permit deductions in computing trade profits and indicates where more detailed guidance may be found. These provisions are, however, subject to the priority rules at BIM42080.

Income Tax (Trading and Other Income) Act 2005 section Corporation Tax Act 2009 section Deduction permitted Further guidance
57 61 Expenditure incurred before start of a trade. BIM46350 onwards
57A Certain expenditure on food or drink for consumption by the trader. Income Tax only. BIM47705
58, 59 Incidental costs of obtaining loan finance. Income Tax only; the loan relationship regime applies to companies (see CFM30000 onwards). BIM45800 onwards
60-67 62-67 Premiums payable by a trader for business premises where the premium is treated as a property business receipt by the landlord. BIM46250 onwards
68 68 Replacement and alteration of trade tools. BIM46935
69 69 Payments for restrictive undertakings. BIM47005
70 70 Expenditure on employees seconded to charities or certain educational bodies. BIM47120
72 72 Charitable donations: employer’s contributions to agent’s costs of a payroll giving scheme. BIM45195
73 73 Expenditure on counselling and other outplacement services for employees. BIM47217
74, 75 74, 75 Expenditure on qualifying courses for retraining past or present employees for future employment elsewhere. BIM47080
76-80 76-81 Statutory redundancy payments and additional employer’s payments. BIM47200 onwards
81 Certain expenditure on security assets or security services for an individual where a special threat arises by virtue of the trade carried on by him. BIM47300 onwards
82-86 82-86 Contributions to local enterprise organizations and urban regeneration companies. BIM47600 onwards
87 87 Expenditure on research and development.  
88 88 Payments to research associations, universities etc for scientific research.  
89, 90 89, 90 Fees or expenses on obtaining or renewing grants of patents, trademarks etc. BIM45950 onwards & CA75310
91 91 Payments to the Export Credits Guarantee Department.  
92-94 Travel expenses connected with foreign trades. Income Tax only. BIM47712
94A 999, 1000 Expenses of setting up certain employee share schemes. Companies only. BIM44020
155 92 Levies etc paid under the Financial Services and Markets Act 2000.  

For the deduction of contributions to registered pension schemes see BIM46000 onwards.