Taxation (International and Other Provisions) Act 2010 section 348A

Financial statements: business combinations to which the worldwide group is a party

Section 348A dealt with how financial statements should be prepared when a worldwide group was involved in a business combination, but this provision has been repealed.

• Section 348A was part of Part 7 of the Taxation (International and Other Provisions) Act 2010, which contained the previous worldwide debt cap rules
• The entire Part 7, including this section, was repealed by the Finance (No. 2) Act 2017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 regime was replaced by the corporate interest restriction rules introduced by the same Finance Act