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 with them cannot lawfully be covered by insurance. The legislation does not allow deductions in respect of such liabilities, costs and expenses. (This text has been withheld because of exemptions in the Freedom of Information Act 2000)