Section 1303 — Corporation Tax Act 2009: Penalties , interest and VAT surcharges and interest

Penalties , interest and VAT surcharges and interest 1303 1 In calculating profits for any corporation tax purpose, no deduction is allowed for any penalty or interest mentioned in the first column of the following table.

2 This is the table— Penalty or interest Description of tax, levy or duty Penalty under any of sections 60 to 70 of VATA 1994 Value added tax Interest under section 101 of FA 2009 in respect of an amount of value added tax Penalty under any of sections 8 to 11 of FA 1994 Excise duties Penalty under any of paragraphs 12 to 19 of Schedule 7 to FA 1994 Insurance premium tax Interest under paragraph 21 of that Schedule Penalty under any provision of Part 5 of Schedule 5 to FA 1996 Landfill tax Interest under paragraph 26 or 27 of that Schedule Penalty under any provision of Schedule 6 to FA 2000 Climate change levy Interest under any of paragraphs 70, 81 to 85 and 109 of that Schedule Penalty under any provision of Part 2 of FA 2001 Aggregates levy Interest under any of paragraphs 5 to 9 of Schedule 5 to, paragraph 6 of Schedule 8 to and paragraph 5 of Schedule 10 to FA 2001 Penalty under section 25 or 26 of FA 2003 Customs duties Penalty under any provision of Part 4 of FA 2003 Stamp duty land tax Interest under any provision of that Part Interest under section 101 of FA 2009 in connection with sums required to be deducted under section 61 of FA 2004 (construction industry) Penalty under Schedule 24 to FA 2007 Various taxes and excise duties Penalty under Schedule 41 to FA 2008 Various taxes and excise duties Penalty under Schedule 16 to F( No. 2)A 2017 Various taxes 3 In calculating profits for any corporation tax purpose, no deduction is allowed for any surcharge under section 59 of VATA 1994.