Finance Act 2011 (c. 11)

SCHEDULES

SCHEDULE 19 U.K. The bank levy

Part 5 U.K. Supplementary provision

Bank levy to be ignored for other tax purposes U.K.

46 U.K. In calculating profits or losses for the purposes of income tax or corporation tax—

(a) no deduction is allowed in respect of the bank levy, and

(b) no account is to be taken of any amount which is paid by a member of the relevant group to another member of the group for the purposes of meeting or reimbursing the cost of the bank levy charged in relation to the group.