Finance (No. 2) Act 2023 (c. 30)

Schedules

Schedule 3 U.K. Corporate interest restriction etc.

Part 1 U.K. Amendments to TIOPA 2010

“Relevant expense amount” and “relevant income amount” U.K.

6 (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;”.