Upper Tribunal upholds disallowance of tax deductions for accounting provisions for future payments under an unfunded retirement benefit scheme (A D Bly Groundworks and Civil Engineering v HMRC)

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Article summary

Tax analysis: In A D Bly Groundworks and Civil Engineering, the Upper Tribunal (UT) dismissed the companies’ appeals against a decision of the First-tier Tax Tribunal (FTT) that a deduction in computing trading profits was not allowable for provisions in respect of future payments under an unfunded unapproved retirement benefit scheme (UURBS).