Part 4: Income tax, corporation tax and capital gains tax Section 38: Restitution interest payments Details of the section Chapter 2
Chapter 2 contains sections 357YK and 357YL which provide that the gross amount of the restitution interest receivable is chargeable to corporation tax at the rate of 45%.
	Section 357YK sets out that the rate of corporation tax to be applied to the restitution interest is 45%.
	Section 357YL provides that the amount of the restitution interest is not to be reduced by reliefs, allowances or set-offs available against the company's other chargeable profits, (past, present or future).