Taxation (International and Other Provisions) Act 2010 section 269

Insurance activities and insurance-related activities

Section 269 dealt with the definition of insurance activities and insurance-related activities for the purposes of the worldwide debt cap rules, but has been repealed.

• Section 269 was part of Part 7 of TIOPA 2010, which contained the worldwide debt cap rules limiting the amount of tax-deductible financing costs for UK groups.
• The entire Part 7, including this section, was repealed by the Finance (No. 2) Act 2017.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 rules were replaced by the corporate interest restriction regime introduced by section 20 and Schedule 5 of the Finance (No. 2) Act 2017.