SCHEDULES

C1SCHEDULE 5 Landfill Tax

Annotations:
Modifications etc. (not altering text)

Part VII Miscellaneous

No deduction of penalties or interest

40

In section 827 of the Taxes Act 1988 (no deduction for penalties etc.) the following subsection shall be inserted after subsection (1B)—

1C

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.