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For a deduction to be given for a foreign tax, TIOPA10/S112 requires the tax to be charged on income. If a tax is not charged on income, it may be inadmissible for tax credit relief and will also not be deductible under section 112. Examples of such taxes are those charged on turnover or on the capital value of assets used in the business. A deduction for such taxes may, nevertheless, be an allowable expense in computing the income taxable in the UK. See onwards as regards trading income and as regards savings and investment income.