Taxation (International and Other Provisions) Act 2010

[F1 284A Section 284: supplementary U.K.

(1) This section contains provision for determining the total of the reductions required to be made by company A because of section 284(2) in a case in which company A, or any other company to which this Chapter applies, is a dual resident investing company.

(2) If company A is not a dual resident investing company, the total of the reductions required to be made by company A is—

or, if lower, NFD.

(3) If company A is a dual resident investing company, the total of the reductions required to be made by company A is—

or, if that amount is negative or zero, nil.

(4) In subsections (2) and (3)—

• NFD, TEA and TDA have the same meaning as in section 284(3), and

• X is the total of the net financing deductions of all the companies to which this Chapter applies that are dual resident investing companies.]

Textual Amendments

F1 S. 284A inserted (retrospectively) by Finance (No. 3) Act 2010 (c. 33), Sch. 5 paras. 16, 36(1)