Taxation (International and Other Provisions) Act 2010 section 332A

Groups containing securitisation companies

Section 332A previously dealt with special rules for corporate groups that included securitisation companies, but has been repealed as part of the replacement of the old worldwide debt cap regime with the corporate interest restriction rules.

• Section 332A was part of Part 7 of TIOPA 2010, which contained the worldwide debt cap provisions governing how groups could deduct financing costs.
• The entire Part 7, including this section, was repealed by the Finance (No. 2) Act 2017, which introduced the corporate interest restriction regime as a replacement.
• The repeal takes effect for periods of account of worldwide groups beginning on or after 1 April 2017.
• Any group periods of account that started before 1 April 2017 would still have been subject to the old Part 7 rules, including this section, until those periods ended.

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