Income Tax (Trading and Other Income) Act 2005 section 91

Payments to Export Credits Guarantee Department

Section 91 allows traders to deduct from their trading profits certain payments made to the Export Credits Guarantee Department (ECGD) in connection with overseas investment insurance.

• Traders may deduct sums payable to the ECGD when calculating their trading profits
• The payments must relate to agreements arising from arrangements under section 2 of the Export and Investment Guarantees Act 1991, which covers insurance connected with overseas investment
• Payments made with a view to entering into such an agreement also qualify for the deduction
• The deduction applies to sums payable rather than only sums already paid, meaning amounts owed but not yet settled can also be deducted