335Group members with income from property rental subject to particular tax treatment in UK
(1)In calculating the available amount, an amount disclosed in the financial statements of the worldwide group (“the external finance amount”) must be disregarded if conditions A and B are met.
(2)Condition A is that a member of the worldwide group is treated in a relevant accounting period as carrying on a separate business under section 541 of CTA 2010 (ring-fencing of property rental business).
(3)Condition B is that the external finance amount falls to be brought into account in calculating the profits arising from that business in that accounting period.
(4)In this section “relevant accounting period”, in relation to a member of the worldwide group, means an accounting period of the member that falls wholly or partly within the period of account of the worldwide group.