# Finance Act 2003, Paragraph 3

Extent: E+W+S+N.I.

(1) The Income and Corporation Taxes Act 1988 (c. 1) is amended as follows.
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(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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Source: https://www.legislation.gov.uk/ukpga/2003/14/schedule/18/paragraph/3 (the official version)
Page: https://openlegislation.uk/finance-act-2003/schedule-18/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.