Paragraph 5 Income Tax (Trading and Other Income) Act 2005
In section 54(2) of ITTOIA 2005 (penalties and interest that are not deductible for the purposes of computing profits of a trade)f1, for the entry relating to regulations made under section 71 of FA 2004, substitute—
| “Interest under section 101 of FA 2009f2 in connection with sums required to be deducted under section 61 of FA 2004 (construction industry)” |
Annotations
Footnotes
- f1
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2005 c. 5. The Table in section 54(2) has been amended by paragraph 438 of Schedule 1 to S.I. 2009/56; by paragraphs 27 and 28 of Schedule 1 to S.I. 2009/571 and by paragraphs 7 and 8 of the Schedule to S.I. 2010/530. The term “ITTOIA 2005” is defined in section 126(1) of the Finance Act 2009.
- f2
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The term “FA” followed by a year is defined in Schedule 4 to the Income Tax (Trading and Other Income) Act 2005.