HL Deb 05 August 1975 vol 363 cc1647-8WA
Lord HOUGHTON of SOWERBY

asked Her Majesty's Government:

Whether expenses incurred in sponsorship of cricket matches, show-jumping, motor-racing and other events by companies are deductible from taxable profits as being expended for the purposes of trade.

Lord JACQUES

My Lords, it depends on the particular facts in each individual case. The general rule is that such expenses are not deductible unless they are incurred wholly and exclusively for the purposes of the trade.

House adjourned at seventeen minutes before midnight.