29U.K.In section 263 (tax treatment of financing costs and income: net debt of a company), after subsection (4) insert—
“(4A)For the purposes of subsections (3) and (4), if the company is one in relation to which an election under section 18A of CTA 2009 has effect anything that would otherwise form part of the company's relevant liabilities or relevant assets does not do so if and to the extent that amounts in respect of it are left out of account under that section.”