Commentary on Sections Overview Overview Section 314: Regulations
1283.This section provides for the Treasury’s powers to make regulations for the purposes stated. It is based on section 31A(13) of ICTA.
1284.The relief applies potentially to all income tax payers, including those non-resident companies liable to income tax. Subsection (2) reflects, among other things, the fact that it is not available to companies in respect of their liability to corporation tax.