PART XIX SUPPLEMENTAL
Miscellaneous
827 VAT penalties etc.
M11
Where, under F2Part IV of the Value Added Tax Act 1994, a person is liable to make a payment by way of—
a
penalty under any of sections F360 to 70; or
b
interest under section F474; or
c
surcharge under section F459;
the payment shall not be allowed as a deduction in computing any income, profits or losses for any tax purposes.
F61A
Where a person is liable to make a payment by way of a penalty under any of sections 8 to 11 of the Finance Act 1994 (penalties relating to excise), that payment shall not be allowed as a deduction in computing any income, profits or losses for any tax purposes.
F11B
Where a person is liable to make a payment by way of—
a
penalty under any of paragraphs 12 to 19 of Schedule 7 to the Finance Act 1994 (insurance premium tax), or
b
interest under paragraph 21 of that Schedule,
the payment shall not be allowed as a deduction in computing any income, profits or losses for any tax purposes.
F71C
Where a person is liable to make a payment by way of—
a
penalty under Part V of Schedule 5 to the Finance Act 1996 (landfill tax), or
b
interest under paragraph 26 or 27 of that Schedule,
the payment shall not be allowed as a deduction in computing any income, profits or losses for any tax purposes.
F81D
Where a person is liable to make a payment by way of—
a
any penalty under any provision of Schedule 6 to the Finance Act 2000 (climate change levy),
b
interest under paragraph 70 of that Schedule (interest on recoverable overpayments etc.),
c
interest under any of paragraphs 81 to 85 of that Schedule (interest on climate change levy due and on interest), or
d
interest under paragraph 109 of that Schedule (interest on penalties),
the payment shall not be allowed as a deduction in computing any income, profits or losses for any tax purposes.
2
A sum paid to any person by way of supplement under section F579 of that Act shall be disregarded for all purposes of corporation tax and income tax.