Schedules

Schedule 3Corporate interest restriction etc.

Part 1Amendments to TIOPA 2010

2Tax-interest expense amounts of a company: charities

In section 382 (the tax-interest expense amounts of a company), after subsection (1) insert—

1A

But, in the case of a company which is a charity (as defined in paragraph 1 of Schedule 6 to FA 2010) at the end of the period of account, references in this Part to a “tax-interest expense amount” of the company do not include references to an amount which meets Condition A, B or C.