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.
Section 205: Disallowance of insurance premiums as expenses.
Taxation of Chargeable Gains Act 1992 · 1992 c. 12View on legislation.gov.uk
Part VI: Companies, oil, insurance etc. — Chapter III: Insurance
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