Schedules

Schedule 3Corporate interest restriction etc.

Part 1Amendments to TIOPA 2010

6“Relevant expense amount” and “relevant income amount”

1

Section 411 (“relevant expense amount” and “relevant income amount”) is amended as follows.

2

For subsection (1)(j) substitute—

j

debits that are brought into account under Part 5 of CTA 2009 as a result of section 481 of that Act (relevant non-lending relationships), or would be so brought into account if the company in question were within the charge to corporation tax, other than—

i

exchange losses, or

ii

impairment losses;

3

For subsection (2)(h) substitute—

h

credits that are brought into account under Part 5 of CTA 2009 as a result of section 481 of that Act (relevant non-lending relationships), or would be so brought into account if the company in question were within the charge to corporation tax, other than—

i

exchange gains, or

ii

the reversal of impairment losses;