Taxation (International and Other Provisions) Act 2010 section 265A

Different accounting treatment used at company and group levels

Section 265A previously dealt with situations where a company used a different accounting treatment for its financing arrangements in its own accounts compared with the consolidated group accounts, but this provision has been repealed.

• Section 265A was part of Part 7 of TIOPA 2010, which contained the former worldwide debt cap rules
• The entire Part 7, including this section, was repealed by the Finance (No. 2) Act 2017
• The repeal took effect for periods of account of worldwide groups beginning on or after 1 April 2017
• The worldwide debt cap regime was replaced by the corporate interest restriction rules introduced by the same Act