[86A Contributions to flood and coastal erosion risk management projects]
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

[Contributions to flood and coastal erosion risk management projects]

[86A  Contributions to flood and coastal erosion risk management projects]

[(1)     This section applies if—

(a)     a person carrying on a trade (“the contributor”) incurs expenses in making a qualifying contribution to a qualifying flood or coastal erosion risk management project, and

(b)     a deduction would not otherwise be allowable for the expenses in calculating the profits of the trade.

(2)     In determining whether the condition in subsection (1)(b) is satisfied, a deduction giving effect to a capital allowance is to be disregarded.

(3)     In calculating the profits of the trade, a deduction is allowed under this section for the expenses.

(4)     But if, in connection with

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