Subject to paragraph 33 of Statement of Practice SP4/97 (see
EIM64605), you should consider the
expenses of an employed insurance agent, in so far as they are not
borne or reimbursed by the employer, in accordance with
EIM31620 onwards (see also
EIM64645). But note that no deduction is
admissible for bad debts incurred through keeping policies alive.
(Agents are forbidden to advance premiums for this purpose beyond a
stipulated period during which they are reimbursed by the company
or society.)
