Income Tax (Trading and Other Income) Act 2005 section 140A

Disqualifying deduction

Section 140A defined what constituted a "disqualifying deduction" for the purposes of the provisions relating to manufactured payments and repos, but was repealed with effect from 1 January 2007.

• Section 140A was introduced by Finance Act 2005 as part of a group of sections (136–144) dealing with manufactured payments and related arrangements.
• The section provided a definition of "disqualifying deduction" used within that group of provisions.
• The entire group of sections 136 to 144 was repealed by Finance Act 2006, section 178, and Schedule 26, Part 3(4).
• The repeal took effect from 1 January 2007, meaning these provisions have no application to periods from that date onwards.