Taxation (International and Other Provisions) Act 2010 section 309

Calculation of amounts

Section 309 provided rules for calculating amounts under the worldwide debt cap provisions in Part 7 of the Act, but has been repealed and replaced by the corporate interest restriction rules.

• Section 309 set out how amounts were to be calculated for the purposes of the worldwide debt cap regime in Part 7 of TIOPA 2010.
• The entire Part 7, including this section, was repealed by the Finance (No. 2) Act 2017.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.