Income Tax Act 2007 section 681BK

Relevant income tax relief

Section 681BK defines what counts as a "relevant income tax relief" deduction for the purposes of the Chapter dealing with certain tax avoidance arrangements.

• Deductions made when calculating the profits or losses of a trade, profession or vocation for income tax purposes
• Deductions made when calculating the profits of a UK property business for income tax purposes
• Deductions used in calculating losses from miscellaneous transactions or in computing other income or gains chargeable to income tax under specified provisions
• Deductions from employment earnings allowed for employee expenses, or used in calculating losses from an employment for income tax purposes