330The tested income amountU.K.
(1)References in this Part to the “tested income amount” for a period of account of the worldwide group are to the sum of the net financing incomes of each UK group company.
(2)The reference in subsection (1) to the “net financing income” of a company for a period of account of the worldwide group is to—
(a)the sum of the company's financing income amounts for the period (see section 314), less
(b)the sum of the company's financing expense amounts for the period (see section 313).
(3)References in subsection (2) to a company's financing expense amounts or financing income amounts for a period of account of the worldwide group do not include any amount that arises as a result of a transaction that takes place at a time at which the company is not a UK group company.
(4)If the amount determined in accordance with subsection (2) is negative, the net financing income of the company for the period is nil.
(5)If the amount determined in accordance with subsection (2) is small (see section 331), the net financing income of the company for the period is nil.