90 Disallowance of relief for interest on tax. U.K.
Interest payable under this Part of this Act shall be paid without any deduction of income tax and shall not be allowed as a deduction in computing any income, profits or losses for any tax purposes.
Modifications etc. (not altering text)
C1S. 90 applied (27.7.1993) by 1993 c. 34, s. 173, Sch. 19 Pt. II para.11(5)
C2 See Oil Taxation Act 1975 (c. 22), s. 1, Sch. 2 paras. 1(1), 15 (Oil Taxation Acts) regarding modification in relation to petroleum revenue tax and supplementary petroleum duty
C3 See Finance Act 1988 (c. 39), Sch. 5 para. 3(4)—payments on account of tax by underwriters.
C4 See Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1) Sch. 19A para. 3as substituted by S.I. 1990 No. 2524.