5. In section 54(2) of ITTOIA 2005 (penalties and interest that are not deductible for the purposes of computing profits of a trade)(1), for the entry relating to regulations made under section 71 of FA 2004, substitute—
| “Interest under section 101 of FA 2009(2) in connection with sums required to be deducted under section 61 of FA 2004 (construction industry)” |
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.
The term “FA” followed by a year is defined in Schedule 4 to the Income Tax (Trading and Other Income) Act 2005.