Taxation (International and Other Provisions) Act 2010 section 330

The tested income amount

Section 330 defined the "tested income amount" for the purposes of the worldwide debt cap rules in Part 7 of TIOPA 2010, but has been repealed and replaced by the corporate interest restriction regime.

• Section 330 was part of the worldwide debt cap rules in Part 7 of TIOPA 2010, which limited the amount of tax-deductible financing costs for large groups.
• The section defined the "tested income amount", which was a key figure used in calculating whether a UK group's financing costs exceeded the worldwide group's net financing costs.
• Part 7, including section 330, was repealed by Finance (No. 2) Act 2017 and replaced by the corporate interest restriction rules introduced by section 20 and Schedule 5 of that Act.
• The repeal took effect for periods of account of worldwide groups beginning on or after 1 April 2017, meaning the old worldwide debt cap rules may still apply to earlier periods.

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