Section 149C — Corporation Tax Act 2009: Allowable deductions: memorials

Allowable deductions: memorials 149C 1 This section sets out the deductions that are allowed in respect of a memorial if proceeds from the sale of the memorial are brought into account as a receipt in calculating the profits of the trade.

2 A deduction is allowed for the costs incurred (by the trader or a predecessor) in producing the memorial.

3 If the memorial includes an inscription, making that inscription is taken to be part of producing the memorial.

4 If the memorial is attached to a building that is used wholly or mainly for the purpose of accommodating memorials or the memorial comprises an entire building, a further deduction is allowed for two-thirds of the associated building costs.

5 In relation to a memorial attached to or comprising a building, “the associated building costs” means—

a the amount found by dividing the costs of the building by the total number of memorials that the building is capable of accommodating, or b if the memorial comprises an entire building, the costs of that building.