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Finance Act 2003

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Changes to legislation:

Finance Act 2003, Paragraph 3 is up to date with all changes known to be in force on or before 26 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

3(1)The Income and Corporation Taxes Act 1988 (c. 1) is amended as follows.U.K.

F1(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F1(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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(6)In section 827 (penalties and interest not allowed as deductions for tax purposes), after subsection (1F) insert—

(1G)Where a person is liable to make a payment by way of—

(a)any penalty under Part 4 of the Finance Act 2003 (stamp duty land tax), or

(b)interest under any provision of that Part,

the payment shall not be allowed as a deduction in computing any income, profits or losses for any tax purposes..

Textual Amendments

F1Sch. 18 para. 3(2)-(5) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

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