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Finance Act 2009, SCHEDULE 15 is up to date with all changes known to be in force on or before 19 March 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

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Section 35

SCHEDULE 15U.K.Tax treatment of financing costs and income

This schedule has no associated Explanatory Notes

Part 1U.K.Introduction

OverviewU.K.

F11U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Part 2U.K.Application of this Schedule

Application of ScheduleU.K.

F12U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

UK net debt of the worldwide group for period of account of worldwide groupU.K.

F13U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Net debt of a companyU.K.

F14U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Worldwide gross debt of worldwide group for period of account of worldwide groupU.K.

F15U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

References to amounts disclosed in balance sheet of relevant group companyU.K.

F16U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Qualifying financial services groupsU.K.

F17U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Qualifying activitiesU.K.

F18U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Lending activities and activities ancillary to lending activitiesU.K.

F19U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Insurance activities and insurance related activitiesU.K.

F110U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Relevant dealing in financial instrumentsU.K.

F111U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

UK trading income of the worldwide groupU.K.

F112U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Worldwide trading income of the worldwide groupU.K.

F113U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Foreign currency accountingU.K.

F114U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Part 3U.K.Disallowance of deductions

Application of Part and meaning of “total disallowed amount”U.K.

F115U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Meaning of “company to which this Part applies”U.K.

F116U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Appointment of authorised company for relevant period of accountU.K.

F117U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Meaning of “the reporting body”U.K.

F118U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Statement of allocated disallowances: submissionU.K.

F119U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Statement of allocated disallowances: submission of revised statementU.K.

F120U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Statement of allocated disallowances: requirementsU.K.

F121U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Statement of allocated disallowances: effectU.K.

F122U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Company tax returnsU.K.

F123U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Power to make regulations about statement of allocated disallowancesU.K.

F124U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Failure of reporting body to submit statement of allocated disallowancesU.K.

F125U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Powers to make regulations in relation to reductions required under paragraph 25U.K.

F126U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Part 4U.K.Exemption of financing income

Application of Part and meaning of “total disallowed amount”U.K.

F127U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Meaning of “company to which this Part applies”U.K.

F128U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Appointment of authorised company for relevant period of accountU.K.

F129U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Meaning of “the reporting body”U.K.

F130U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Statement of allocated exemptions: submissionU.K.

F131U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Statement of allocated exemptions: submission of revised statementU.K.

F132U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Statement of allocated exemptions: requirementsU.K.

F133U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Statement of allocated exemptions: effectU.K.

F134U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Company tax returnsU.K.

F135U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Power to make regulations about statement of allocated exemptionsU.K.

F136U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Failure of reporting body to submit statement of allocated exemptionsU.K.

F137U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Power to make regulations in relation to reductions required under paragraph 37U.K.

F138U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Balancing payments between group companies: no charge to, or relief from, taxU.K.

F139U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Part 5U.K.Intra-group financing income where payer denied deduction

Exemption from tax for certain financing income received from certain EEA companiesU.K.

F140U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Meaning of “relevant associate”U.K.

F141U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Meaning of “tax-resident” and “EEA territory”U.K.

F142U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Qualifying EEA tax relief for payment in the current period or a previous periodU.K.

F143U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Qualifying EEA tax relief for payment in future periodU.K.

F144U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

References to tax of a territoryU.K.

F145U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Financing income amounts of a companyU.K.

F146U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Part 6U.K.Anti-avoidance

Schemes involving manipulation of rules in Part 2U.K.

F147U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Schemes involving manipulation of rules in Parts 3 and 4U.K.

F148U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Meaning of “relevant net deduction”U.K.

F149U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Calculation of amountsU.K.

F150U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Meaning of “carried-back amount” and “carried-forward amount”U.K.

F151U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Schemes involving manipulation of rules in Part 5U.K.

F152U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Meaning of “scheme” and “excluded scheme”U.K.

F153U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Part 7U.K.“Financing expense amount” and “financing income amount”

The financing expense amounts of a companyU.K.

F154U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

The financing income amounts of a companyU.K.

F155U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Interpretation of paragraphs 54 and 55U.K.

F156U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Group treasury companiesU.K.

F157U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Real estate investment trustsU.K.

F158U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Companies engaged in oil extraction activitiesU.K.

F159U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Intra-group short-term finance: financing expenseU.K.

F160U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Intra-group short-term finance: financing incomeU.K.

F161U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Short-term loan relationshipsU.K.

F162U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Stranded deficits in non-trading loan relationships: financing expenseU.K.

F163U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Stranded deficits in non-trading loan relationships: financing incomeU.K.

F164U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Stranded management expenses in non-trading loan relationships: financing expenseU.K.

F165U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Stranded management expenses in non-trading loan relationships: financing incomeU.K.

F166U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

CharitiesU.K.

F167U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Educational and public bodiesU.K.

F168U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Interpretation of paragraphs 57 to 68U.K.

F169U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Part 8U.K.The “tested expense amount” and “tested income amount”

The tested expense amountU.K.

F170U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

The tested income amountU.K.

F171U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Companies with net financing deduction or net financing income that is smallU.K.

F172U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Part 9U.K.The “available amount”

The available amountU.K.

F173U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Group members with income from oil extraction subject to particular tax treatment in UKU.K.

F174U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Group members with income from shipping subject to particular tax treatment in UKU.K.

F175U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Group members with income from property rental subject to particular tax treatment in UKU.K.

F176U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Meaning of accounting expressions used in this PartU.K.

F177U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Part 10U.K.Other interpretative provisions

The worldwide groupU.K.

F178U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Meaning of “group”U.K.

F179U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Meaning of “ultimate parent”U.K.

F180U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Meaning of “corporate entity”U.K.

F181U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Meaning of “relevant non-corporate entity”U.K.

F182U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Treatment of entities stapled to corporate entities or relevant non-corporate entitiesU.K.

F183U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Treatment of business combinationsU.K.

F184U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Meaning of “large” in relation to a groupU.K.

F185U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Meaning of “UK group company” and “relevant group company”U.K.

F186U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Financial statements of the worldwide groupU.K.

F187U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Non-compliant financial statements of worldwide groupU.K.

F188U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Non-existent financial statements of worldwide groupU.K.

F189U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

References to amounts disclosed in financial statementsU.K.

F190U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Translation of amounts disclosed in financial statements into sterlingU.K.

F191U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Expressions taking their meaning from international accounting standardsU.K.

F192U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Meaning of “relevant accounting period”U.K.

F193U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Meaning of “the Commissioners” and “HMRC”U.K.

F194U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

Part 11U.K.Consequential amendments and commencement

Consequential amendmentsU.K.

F195U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 15 paras. 1-95 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 8 para. 160, Sch. 10 Pt. 4 (with Sch. 9 paras. 1-9, 22)

F296U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F2Sch. 15 para. 96 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 2 (with Sch. 9 paras. 1-9, 22)

CommencementU.K.

F397U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Anti-avoidance: change of period of account of worldwide groupU.K.

F398U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

Transitional provisionU.K.

F399U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

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