Textual Amendments
F1 Word in Sch. 19 Pt. 7 cross-heading inserted (with effect in accordance with s. 204(5)-(7) of the amending Act) by Finance Act 2013 (c. 29) , s. 204(4)(b)
Textual Amendments
F2 Sch. 19 para. 69A and cross-heading inserted (with effect in accordance with s. 204(5)-(7) of the amending Act) by Finance Act 2013 (c. 29) , s. 204(3)
69A(1)In calculating profits or losses for the purposes of income tax or corporation tax—U.K.
(a)no deduction is allowed in respect of any tax which is imposed by the law of a territory outside the United Kingdom and corresponds to the bank levy, and
(b)no account is to be taken of any amount which is paid (directly or indirectly) by a member of a group to another member for the purposes of meeting or reimbursing the cost of such a tax charged in relation to the group.
(2)Paragraph 66(3) applies for the purposes of sub-paragraph (1) as it applies for the purposes of paragraph 66(2).]