# Income Tax (Trading and Other Income) Act 2005, Section 869: Penalties , interest and VAT surcharges and interest: non-trades etc.

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

(1) This section applies for the purpose of calculating profits or other income charged to income tax.
(2) For this purpose “profits or other income” does not include the profits of—
(a) a trade, profession, or vocation, or
(b) a property business,
but see subsection (6).
(3) No deduction is allowed for any penalty or interest mentioned in the first column of the following table.
(4) This is the table—
Penalty or interest
Description of tax, levy or duty
Interest under any provision of Part 9 of TMA 1970
Income tax, capital gains tax and corporation tax
Interest required to be paid by regulations made under section 71 of FA 2004 (construction industry)
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 section 60(8) of FA 1994 or paragraph 21 to Schedule 7 to FA 1994
Penalty under any provision of Part 5 of Schedule 5 to FA 1996
Landfill tax
Interest under section 56(5) of, or paragraph 26 or 27 of Schedule 5 to, FA 1996
Penalty under any provision of Schedule 6 to FA 2000
Climate change levy
Interest under any of paragraphs 70, 81 to 85 , 109 and 123(6) of that Schedule
Penalty under any provision of Part 2 of FA 2001
Aggregates levy
Interest under section 42(6) of, or 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
Penalty under Schedule 24 to FA 2007
Various taxes and excise duties
Penalty under Schedule 41 to FA 2008
Various taxes and excise duties
(5) No deduction is allowed for any surcharge under section 59 of VATA 1994.
(6) Provision corresponding to that made by this section is made by—
(a) section 54 (in relation to trades, professions and vocations), and
(b) sections 272 and 272ZA (in relation to property businesses).

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Source: https://www.legislation.gov.uk/ukpga/2005/5/section/869 (the official version)
Page: https://openlegislation.uk/income-tax-trading-and-other-income-act-2005/section-869
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.