869 Penalties, interest and VAT surcharges [and interest]: non-trades etc
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

Penalties, interest and VAT surcharges [and interest]

869  Penalties, interest and VAT surcharges [and interest]: non-trades etc

(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 interestDescription of
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