Revenue Note for Guidance

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Revenue Note for Guidance

376 Restriction of deduction in respect of running expenses of cars

This section was repealed by section 28(1)(c) Finance Act 2002 as respects expenditure incurred in an accounting period ending on or after 1 January 2002, or in a basis period for a year of assessment where that basis period ends on or after 1 January 2002. The section previously operated to restrict the amount of running expenses allowed as a deduction for tax purposes in respect of cars costing over a certain amount.

Relevant Date: Finance Act 2020