531W No relief for any payment in relation to parking levy.

Notwithstanding any provision of the Tax Acts, no sum shall—

(a) in the case of an employee, be allowed to the employee in relation to a parking levy payable under this Part—

(i) as a deduction under section 114, or

(ii) as a credit against any liability arising under the Tax Acts,

or

(b) in the case of an employer—

(i) be deducted in computing the amount of profits or gains chargeable to tax under Schedule D, or

(ii) be included in computing any expenses of management in respect of which a deduction may be claimed under section 83 or 707,

in relation to any amount which is paid by the employer to an employee in compensation for, or in re-imbursement of, the payment of a parking levy under this Part.