Section 205 — Taxation of Chargeable Gains Act 1992: Disallowance of insurance premiums as expenses.

Disallowance of insurance premiums as expenses. 205 Without prejudice to the provisions of section 39, there shall be excluded from the sums allowable as a deduction in the computation of the gain accruing on the disposal of an asset any premiums or other payments made under a policy of insurance of the risk of any kind of damage or injury to, or loss or depreciation of, the asset.