Commentary

B2.118 Relief for unremittable amounts

Business tax
Business tax | Commentary

B2.118 Relief for unremittable amounts

Business tax | Commentary

B2.118 Relief for unremittable amounts

Relief for unremittable amounts is available to any trader, including a financial trader1. It is not a mandatory deduction and therefore, if the conditions are met, a trader can choose whether or not to include the deduction in the tax return2. The relief does not have to be claimed3.

Relief is only given against the profits of the trade that include the unremittable amount. Where the trader has profits from the trade in a period of account and an unremittable amount has been brought into account as a receipt for that period, the unremittable amount is

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