Companies (Publicity Campaigns)

HC Deb 05 August 1976 vol 916 cc996-7W

Mr. Hoyle

asked the Chancellor of the Exchequer to what extent companies are permitted to offset publicity campaigns against their tax liabilities.

Mr. Denzil Davies

Such expenditure is allowable as a deduction in computing profits for tax purposes if it is incurred wholly and exclusively for the purposes of the company's trade.