Part 20General calculation rules
C1C2Chapter 1Restriction of deductions
Pt. 20 Ch. 1 applied (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 92(4) (with s. 147, Sch. 17)
Miscellaneous
1303C2PenaltiesF6, interest and VAT surchargesF6and interest
1
In calculating profits for any corporation tax purpose, no deduction is allowed for any penalty or interest mentioned in the first column of the following table.
2
This is the table—
Penalty or interest | Description of tax, levy or duty |
|---|---|
Penalty under any of sections 60 to 70 of VATA 1994 | Value added tax |
F4Interest under section 101 of FA 2009 in respect of an amount of value added tax | |
Penalty under any of sections 8 to 11 of FA 1994 | Excise duties |
Penalty under any of paragraphs 12 to 19 of Schedule 7 to FA 1994 | Insurance premium tax |
Interest under paragraph 21 of that Schedule | |
Penalty under any provision of Part 5 of Schedule 5 to FA 1996 | Landfill tax |
Interest under paragraph 26 or 27 of that Schedule | |
Penalty under any provision of Schedule 6 to FA 2000 | Climate change levy |
Interest under any of paragraphs 70, 81 to 85 and 109 of that Schedule | |
Penalty under any provision of Part 2 of FA 2001 | Aggregates levy |
Interest under any of paragraphs 5 to 9 of Schedule 5 to, paragraph 6 of Schedule 8 to and paragraph 5 of Schedule 10 to FA 2001 | |
Penalty under section 25 or 26 of FA 2003 | F5Customs duties |
Penalty under any provision of Part 4 of FA 2003 | Stamp duty land tax |
Interest under any provision of that Part | |
F2Interest under section 101 of FA 2009 in connection with sums required to be deducted under section 61 of FA 2004 (construction industry) | |
F3Penalty under Schedule 24 to FA 2007 | Various taxes and excise duties |
F3Penalty under Schedule 41 to FA 2008 | Various taxes and excise duties |
F1Penalty under Schedule 16 to F(No. 2)A 2017 | Various taxes |
3
F7In calculating profits for any corporation tax purpose, no deduction is allowed for any surcharge under section 59 of VATA 1994.
Pt. 20 Ch. 1 applied by 1989 c. 26, s. 85(2BA) (as substituted (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 1 para. 348(4) (with Sch. 2 Pts. 1, 2))