Taxation (International and Other Provisions) Act 2010 section 317

Real estate investment trusts

Section 317 previously contained provisions relating to real estate investment trusts (REITs) as part of the worldwide debt cap rules in Part 7 of the Act, but has been repealed and replaced by the corporate interest restriction regime.

• Section 317 was part of the worldwide debt cap rules in Part 7 of TIOPA 2010, which dealt with how financing costs of large groups were limited for tax purposes
• The entire Part 7, including this section, was repealed by the Finance (No. 2) Act 2017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 rules introduced by section 20 and Schedule 5 of the Finance (No. 2) Act 2017