34 Employee benefit contributions
Finance Act 2007 (2007 c 11) | Legislation

34  Employee benefit contributions

(1)     . . .

(2)     . . .

(3)     . . .

(4)     . . .

(5)     . . .

(6)     . . .

(7)     Part 2 of ITTOIA 2005 (trading income) is amended as follows.

(8)     In section 38 (restriction of deductions for employee benefit contributions), for subsection (1) substitute—

“(1)     This section applies if, in calculating for income tax purposes the profits of a trade of a person (“the employer”) for a period, a deduction would otherwise

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