OpenLegislation

Paragraph 10 Income and Corporation Taxes Act 1988

Original text. Later amendments are not shown.

After subsection (1G) add—

“(1H)

Where a person is liable to make a payment by way of penalty under Schedule 24 to the Finance Act 2007 (penalties for errors) the payment shall not be allowed as a deduction in computing any income, profits or losses for any corporation tax purposes (but see also subsection (3)(a) below).”.