Revenue Note for Guidance

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Revenue Note for Guidance

653AK Restriction of deduction

Summary

This section confirms the treatment of residential zoned land tax for the purpose of calculating other taxes.

Details

(1) Residential zoned land tax is not deductible for the purposes of calculating profits or gains to be charged to income tax, corporation tax or capital gains tax.

(2) Residential zoned land tax is not deductible for the purposes of calculating Universal Social Charge or domicile levy.

Relevant Date: Finance Act 2024