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Companies (Motor Insurance)

Volume 934: debated on Wednesday 29 June 1977

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asked the Chancellor of the Exchequer under what circumstances companies can claim, as tax deductible, premiums paid for motor insurance policies which offer cover against penalties for drinking and driving involving loss of mobility.

Such a premium would normally be allowable as a deduction in computing profits for tax purposes if paid to avoid costs which would themselves be deductible for tax purposes.