Finance Act 2019 (c. 1)

SCHEDULES

SCHEDULE 14 U.K. Leases: changes to accounting standards etc

PART 3 U.K. Changes to accounting standards and tax adjustments

Corporate interest restriction: changes of accounting policy U.K.

18 (1) In section 426 of TIOPA 2010 (changes of accounting policy), in subsection (3), after paragraph (e) insert— U.K.

“(f) paragraphs 12 to 17 of Schedule 14 to FA 2019 (transitional provision following the repeal of section 53 of FA 2011) so far as they have effect in relation to adjustments under Chapter 14 of Part 3 of CTA 2009 or sections 261 and 262 of that Act.”

(2) The amendment made by this paragraph has effect in relation to periods of account of a worldwide group (within the meaning given by section 480 of TIOPA 2010) beginning on or after 1 January 2019.