60(1)This paragraph applies if—U.K.
(a)a person liable to a penalty under this Part of this Schedule has an agreement in relation to the penalty with one or more companies within the charge to corporation tax, and
(b)as a result of the agreement, the person receives a payment or payments in respect of the penalty that do not, in total, exceed the amount of the penalty.
(2)The payment—
(a)is not to be taken into account in calculating the profits for corporation tax purposes of either the person or the company making the payment, and
(b)is not to be regarded as a distribution for corporation tax purposes.