Corporation Tax Act 2009

Levies under FISMA 2000 U.K.

92 Levies etc under FISMA 2000 U.K.

(1) In calculating the profits of a trade carried on by a company, a deduction is allowed for any sum—

(a) spent by the company in paying a levy, or

(b) paid by the company as a result of an award of costs under costs rules,

so far as it is not otherwise allowable.

(2) For the purposes of this section “costs rules” means—

(a) rules made under section 230 of FISMA 2000, or

(b) provision relating to costs contained in the standard terms fixed under paragraph 18 of Schedule 17 to FISMA 2000.

(3) For the purposes of this section “levy” means—

(a) a payment required under rules made under section 136(2) of FISMA 2000,

(b) a levy imposed under the Financial Services Compensation Scheme,

(c) a payment required under rules made under section 234 of FISMA 2000,

(d) a payment required under the rules referred to in paragraph 14(1) of Schedule 17 to FISMA 2000 in accordance with paragraph 15(1) of that Schedule, or

(e) a payment required in accordance with the standard terms fixed under paragraph 18 of that Schedule (other than a sum paid as a result of an award of costs under costs rules).