Point in time view as at 06/04/2018.
There are currently no known outstanding effects for the Finance Act 2018, Paragraph 3.
3(1)Section 387 (relevant derivative contract credits) is amended as follows.U.K.
(2)In subsection (3), for paragraph (c) substitute—
“(c)it is in respect of a risk arising in the ordinary course of a trade (other than a risk arising in the ordinary course of a financial trade) where the derivative contract was entered into wholly for reasons unrelated to the capital structure of the worldwide group (or any member of the worldwide group).”
(3)After subsection (3) insert—
“(3A)For the purposes of subsection (3)(c) a credit is in respect of a risk arising in the ordinary course of “a financial trade” only so far as the risk relates to an amount which is or is likely to be—
(a)a tax-interest expense amount, or
(b)a tax-interest income amount,
of the company in any relevant accounting period.”
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
