Corporation Tax: Deductibility of management expenses: guarantee payments | Practical Law

Corporation Tax: Deductibility of management expenses: guarantee payments | Practical Law

The First-tier Tribunal has held that payments made in performance of a guarantee and a provision for future such payments are not deductible; however, payments for the release of obligations under a guarantee are deductible.

Corporation Tax: Deductibility of management expenses: guarantee payments

Practical Law UK Articles 8-565-4967 (Approx. 3 pages)

Corporation Tax: Deductibility of management expenses: guarantee payments

by Norton Rose Fulbright LLP
Published on 24 Apr 2014United Kingdom
The First-tier Tribunal has held that payments made in performance of a guarantee and a provision for future such payments are not deductible; however, payments for the release of obligations under a guarantee are deductible.