Explanatory Notes

Taxation (International and Other Provisions) Act 2010

2010 CHAPTER 8

18 March 2010

Commentary on Sections

Part 7: Tax treatment of financing costs and income

Chapter 4: Exemption of financing income
Section 287: Meaning of “company to which this Chapter applies”

568.This section provides that this Chapter applies to a company that is a UK group company at any time during the period of account of the worldwide group. It is based on paragraph 28 of Schedule 15 to FA 2009.