EIM30523 - Deductions: directors' and officers' liabilities: no relief due on matters that it is unlawful to insure against
Section 346(2) ITEPA 2003
Liabilities such as fines and penalties and some costs and expenses associated withthem cannot lawfully be covered by insurance. The legislation does not allow deductions in respect of such liabilities, costs and expenses. (This content has been withheld because of exemptions in the Freedom of Information Act 2000)