charges on income
A term based on the old method of giving tax relief for certain income payments which was, essentially, to treat a payment made out of fully taxable income as transferring income from payer to recipient. In the context of companies, a charge on income is defined in section 338 of the Income and Corporation Taxes Act 1988. Charges on income are deductible from profits for corporation tax purposes.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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