Section 139 — Corporation Tax Act 2009: Deduction for deemed employment payment

Deduction for deemed employment payment 139 1 This section applies for the purpose of calculating the profits of a trade carried on by an intermediary which is treated as making a deemed employment payment in connection with the trade.

2 A deduction is allowed for—

a the amount of the deemed employment payment, and b the amount of any employer's national insurance contributions paid by the intermediary in respect of it.

3 The deduction is allowed for the period of account in which the deemed employment payment is treated as made.

4 No deduction in respect of—

a the deemed employment payment, or b any employer's national insurance contributions paid by the intermediary in respect of it, may be made except in accordance with this section.

5 In this section “ deemed employment payment ” and “ intermediary ” have the same meaning as in Chapter 8 of Part 2 of ITEPA 2003 (see sections 49 and 50 of that Act).