Income Tax (Trading and Other Income) Act 2005 section 867

Business entertainment and gifts: non-trades and non-property businesses

Section 867 prohibits the deduction of entertainment and gift expenses when calculating taxable profits from businesses that are not trades, professions, vocations or property businesses, subject to certain exceptions.

Access full legislation.And much more.

By becoming a member, your team gets full access to Tax World research tools and source-backed tax resources.