SCHEDULES
SCHEDULE 18Stamp duty land tax: consequential amendments
Income and Corporation Taxes Act 1988
3
1
The Income and Corporation Taxes Act 1988 (c. 1) is amended as follows.
F12
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F13
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F14
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F15
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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.