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Finance Act 2003

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Version Superseded: 01/04/2010

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Point in time view as at 06/04/2005.

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There are outstanding changes not yet made by the legislation.gov.uk editorial team to Finance Act 2003. Any changes that have already been made by the team 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.

(2)In section 209B(4) (hedging arrangements), in subsection (4) for “or stamp duty” substitute “ (including stamp duty or stamp duty land tax) ”.

(3)In section 213 (exempt distributions), in subsection (11)(a) for “stamp duty” substitute “ stamp duty or stamp duty land tax ”.

(4)In section 214 (chargeable payments connected with exempt distributions), in subsection (2) for “stamp duty” substitute “ stamp duty or stamp duty land tax ”.

(5)In section 215 (advance clearance by Board of distributions and payments), in subsection (2) for “stamp duty” substitute “ stamp duty or stamp duty land tax ”.

(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..

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