HC Deb 23 July 1940 vol 363 c666

Resolved, That—

  1. (a) in computing the amount of the profits or gains of any person for any purpose of the Income Tax Acts for the year 1940–41 or any subsequent year, no sum shall be deducted in respect of any payment made by him under any such contract or arrangement relating to indemnification in respect of war damage as may be described in any Act of the present Session relating to income tax;
  2. (b) no such payment shall be included in computing the expenses of management in respect of which relief may be claimed for any such year under section thirty-three of the Income Tax Act, 1918, as amended by subsequent enactments, or the cost of maintenance, repairs, insurance and management in respect of which relief may be so claimed under Rule 8 of No. V of Schedule A as so amended."