Commentary on Sections Example 3 £150(Pe) – £50(E) = £100 Section 282: Exclusion from section 281 of benefits and expenses where deduction allowed
1152.This section identifies benefits and expenses that are excluded from the exemptions provided for in this Chapter. It derives from paragraphs 12(4) and 21(7) and (8) of Schedule 11A to ICTA.
1153.Subsection (1) states the general proposition about exclusion of certain benefits or expenses by reference to an amount being deductible under other provisions.
1154.Subsection (2) identifies those provisions.
1155.Subsection (3) deals with the circumstance where a deduction might be allowed for only part of a benefit provided. In that case the other part of the benefit might still be exempt.