Taxation (International and Other Provisions) Act 2010 section 274

Application of Chapter and meaning of "total disallowed amount"

Section 274 formerly set out how the chapter applied and defined the "total disallowed amount", but has been repealed as part of the replacement of the old worldwide debt cap rules with the corporate interest restriction regime.

• Section 274 was part of Part 7 of TIOPA 2010, which dealt with the financing expenses of groups of companies operating internationally
• The entire Part 7, including this section, was repealed by Finance (No. 2) Act 2017
• The repeal took effect for periods of account of worldwide groups beginning on or after 1 April 2017
• The old rules were replaced by the corporate interest restriction rules introduced by section 20 and Schedule 5 of Finance (No. 2) Act 2017