What is the purpose of section 498 of the Taxation (International and Other Provisions) Act 2010?

Section 498 provides a comprehensive reference index listing all defined expressions used throughout Part 10 (Corporate Interest Restriction) of the Act. It serves as a navigational aid, directing readers to the exact section, schedule paragraph, or other legislation where each term is formally defined, saving time searching through the entire legislation.

What types of defined terms are included in the section 498 index?

The index covers structural terms such as 'worldwide group' and 'ultimate parent', financial measurement terms like 'net tax-interest expense' and 'tax-EBITDA', procedural terms including 'reporting company' and 'filing date', and public infrastructure exemption terms such as 'qualifying infrastructure company' and 'service concession agreement'.

Where are the definitions referenced in section 498 drawn from?

Definitions are drawn from multiple sources including other sections within Part 10 itself, Schedule 7A dealing with interest restriction returns, the Corporation Tax Act 2009, the Corporation Tax Act 2010, and the Finance Act 2004. The index was amended by Finance Act 2019 and Finance (No. 2) Act 2023 to reflect legislative changes.

How is the section 498 index used in practice by tax advisers?

Tax advisers use the index to quickly locate the precise definition of any term encountered in the corporate interest restriction rules. For example, encountering 'adjusted net group-interest expense' in the legislation, an adviser consults section 498 to find it is defined in section 413, then turns directly to that section for the detailed calculation methodology.

Taxation (International and Other Provisions) Act 2010 section 498

Index of defined expressions used in Part 10

Section 498 provides a comprehensive reference index listing all the defined terms used throughout Part 10 (Corporate Interest Restriction) of the Act, directing readers to where each term is formally defined.

The section is a glossary-style index that lists over 100 defined expressions used in the corporate interest restriction rules, together with where each definition can be found.
Definitions are drawn from multiple sources, including other sections within Part 10 itself, Schedule 7A (which deals with interest restriction returns), the Corporation Tax Act 2009, the Corporation Tax Act 2010, and the Finance Act 2004.
Some terms apply across the whole of Part 10, whilst others are specific to particular chapters — for example, Chapter 7 (group interest and group EBITDA), Chapter 8 (public infrastructure), or Chapter 4 (interest capacity).
The index was amended by Finance Act 2019 and Finance (No. 2) Act 2023 to reflect changes made to the corporate interest restriction regime over time.

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