Commentary

B2.440 Foreign trades

Business tax
Business tax | Commentary

B2.440 Foreign trades

Business tax | Commentary

B2.440 Foreign trades

For income tax purposes, additional deductions are available in respect of trades carried on wholly outside the UK ('foreign trades')1.

These are available if:

  1.  

    •     an individual carries on a foreign trade (either alone or in partnership) and

  2.  

    •     the individual is absent from the UK wholly and exclusively for the purposes of carrying on either2:

    1.  

      –     the foreign trade or

    2.  

      –     the foreign trade and other trades (whether or not foreign trades).

A deduction is available in respect of expenses if:

  1.  

    •     either:

    1.  

      –     they are incurred by the individual travelling between the UK and the place where

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