Taxation (International and Other Provisions) Act 2010 section 282

Company tax returns

Section 282 dealt with company tax return requirements in connection with the worldwide debt cap rules, but has been repealed and replaced by the corporate interest restriction regime.

• Section 282 was part of Part 7 of TIOPA 2010, which contained the worldwide debt cap rules governing how much tax relief UK companies could claim for financing costs within multinational groups.
• The entire Part 7, including section 282, was repealed by the Finance (No. 2) Act 2017, which introduced the corporate interest restriction rules as a replacement.
• The repeal took effect for periods of account of worldwide groups beginning on or after 1 April 2017.
• For any worldwide group periods of account that began before 1 April 2017, the old worldwide debt cap rules (including section 282) would still have applied to those earlier periods.