Income Tax (Trading and Other Income) Act 2005 section 142C

Deferred income agreements entered into after deduction made

Section 142C dealt with the tax treatment of deferred income agreements that were entered into after a deduction had already been made, but this section was repealed with effect from 1 January 2007.

• Section 142C was part of a group of provisions (sections 136–144) addressing the taxation of certain income arrangements
• It specifically covered situations where a deferred income agreement was entered into after a related tax deduction had already been claimed
• The section was originally introduced by Finance Act 2005, section 65(1)
• All of sections 136–144, including section 142C, were repealed by Finance Act 2006, section 178 and Schedule 26, Part 3(4), with effect from 1 January 2007

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