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Taxation (International and Other Provisions) Act 2010

▸ Part 1 – Overview (s 1)
  • Section 1 – Overview of Act [TIOPA 2010 s 1]
▸ Part 2 – Double taxation relief (ss 2-134)
  • ▸ Chapter 1 – Double taxation arrangements and unilateral relief arrangements (ss 2-17)
    • Double taxation arrangements (ss 2-7)
    • Unilateral relief arrangements (ss 8-17)
  • ▸ Chapter 2 – Double taxation relief by way of credit (ss 18-104)
    • Effect to be given to credit for foreign tax allowed against UK tax (ss 18-20)
    • Interpretation of Chapter (s 21)
    • Credits where same income charged to income tax in more than one tax year (ss 22-24)
    • Cases in which credit not allowed (ss 25-27)
    • Exceptions to requirement to be UK resident (ss 28-30)
    • Calculating income or gains in respect of which credit is allowed (ss 31-32)
    • Limits on credit: general rules (ss 33-35)
    • Limit on, and reduction of, credit against income tax (ss 36-39)
    • Limit on credit against capital gains tax (s 40)
    • Limit on total credit against income tax and capital gains tax (s 41)
    • Limit on credit against corporation tax (ss 42-49B)
    • Calculating tax for purposes of section 42(2) (ss 50-51)
    • Allocation of deductions etc to profits for purposes of section 42 (ss 52-56)
    • Taking account of foreign tax underlying dividends (ss 57-62)
    • Taking account of tax underlying dividends that is not foreign tax (s 63)
    • Tax underlying dividend treated as underlying tax paid by dividend's recipient (ss 64-66)
    • Tax underlying dividends: restriction of relief, and particular cases (ss 67-71)
    • Adjustment of foreign tax on profits of overseas permanent establishment (ss 71A-71B)
    • Unrelieved foreign tax on profits of overseas permanent establishment (ss 72-78)
    • Action after adjustment of amount payable by way of UK or foreign tax (ss 79-80)
    • Schemes and arrangements designed to increase relief: anti-avoidance (ss 81-95)
    • Insurance companies (ss 96-104)
  • ▸ Chapter 3 – Miscellaneous provisions (ss 105-134)
    • Application of Part for capital gains tax purposes (ss 105-106)
    • When foreign tax disregarded in applying Part for corporation tax purposes (ss 107-110)
    • Special rules for discretionary trusts (ss 111)
    • Deduction for foreign tax where no credit allowed (ss 112-115)
    • European cross-border transfers of business (ss 116-117)
    • European cross-border mergers (ss 118-119)
    • Transparent entities involved in cross-border transfers and mergers (ss 120-121)
    • Cross-border transfers and mergers: chargeable gains (s 122)
    • Interpretation of sections related to the Mergers Directive (s 123)
    • Cases about being taxed otherwise than in accordance with double taxation arrangements (ss 124-125)
    • The Arbitration Convention (ss 126-128)
    • International dispute-resolution instruments and agreements (ss 128A-128C)
    • Disclosure of information (s 129)
    • Interpretation of double taxation arrangements (ss 130-133)
    • Assessments (s 134)
▸ Part 3 – Double taxation relief for special withholding tax (ss 135-145)
  • ▸ Introductory (ss 135-136)
    • Section 135 – Relief under this Part: introductory [TIOPA 2010 s 135]
    • Section 136 – Interpretation of Part [TIOPA 2010 s 136]
  • ▸ Credit etc for special withholding tax (ss 137-141)
    • Section 137 – Income tax credit etc. for special withholding tax [TIOPA 2010 s 137]
    • Section 138 – Amount and application of the deemed tax under section 137 [TIOPA 2010 s 138]
    • Section 139 – Capital gains tax credit etc. for special withholding tax [TIOPA 2010 s 139]
    • Section 140 – Provisions about the deemed tax under section 139 [TIOPA 2010 s 140]
    • Section 141 – Credit under Chapter 2 of Part 2 to be allowed first [TIOPA 2010 s 141]
  • ▸ Calculation of income or gain on remittance basis where special withholding tax levied (ss 142-143)
    • Section 142 – Conditions for purposes of section 143 [TIOPA 2010 s 142]
    • Section 143 – Taking account of special withholding tax in calculating income or gains [TIOPA 2010 s 143]
  • ▸ Certificates to avoid levy of special withholding tax (ss 144-145)
    • Section 144 – Issue of certificate [TIOPA 2010 s 144]
    • Section 145 – Refusal to issue certificate and appeal against refusal [TIOPA 2010 s 145]
▸ Part 4 – Transfer pricing (ss 146-217)
  • ▸ Chapter 1 – Basic transfer-pricing rule (ss 146-148)
    • Section 146 – Application of this Part [TIOPA 2010 s 146]
    • Section 147 – Tax calculations to be based on arm’s length, not actual, provision [TIOPA 2010 s 147]
    • Section 148 – The “participation condition” [TIOPA 2010 s 148]
  • ▸ Chapter 2 – Key interpretative provisions (ss 149-164)
    • Meaning of certain expressions that first appear in section 147 (ss 149-156)
    • “Direct participation” in management, control or capital of a person (s 157)
    • “Indirect participation” in management, control or capital of a person (ss 158-163)
    • Application of OECD principles (s 164)
  • ▸ Chapter 3 – Exemptions from basic rule (ss 165-173)
    • Section 165 – Exemption for dormant companies [TIOPA 2010 s 165]
    • Section 166 – Exemption for small and medium-sized enterprises [TIOPA 2010 s 166]
    • Section 167 – Small and medium-sized enterprises: exceptions from exemption [TIOPA 2010 s 167]
    • Section 167A – Small enterprises: exception from exemption: transfer pricing notice [TIOPA 2010 s 167A]
    • Section 168 – Medium-sized enterprises: exception from exemption: transfer pricing notice [TIOPA 2010 s 168]
    • Section 169 – Giving of transfer pricing notices [TIOPA 2010 s 169]
    • Section 170 – Appeals against transfer pricing notices [TIOPA 2010 s 170]
    • Section 171 – Tax returns where transfer pricing notice given [TIOPA 2010 s 171]
    • Section 172 – Meaning of “small enterprise” and “medium-sized enterprise” [TIOPA 2010 s 172]
    • Section 173 – Meaning of “qualifying territory” and “non-qualifying territory” [TIOPA 2010 s 173]
  • ▸ Chapter 4 – Position, if only one affected person potentially advantaged, of other affected person (ss 174-190)
    • Claim by affected person who is not advantaged (ss 174-178)
    • Claims: special cases (ss 179-180)
    • Alternative way of claiming if a security is involved (ss 181-184)
    • Notification to persons who may be disadvantaged (ss 185-186)
    • Treatment of interest where claim made (ss 187)
    • Treatment of interest where claim prevented by section 174A (s 187A)
    • Adjustment of double taxation relief where claim made (ss 188-189)
    • Interpretation of Chapter (s 190)
  • ▸ Chapter 5 – Position of guarantor of affected person’s liabilities under a security issued by the person (ss 191-194)
    • Section 191 – When sections 192 to 194 apply [TIOPA 2010 s 191]
    • Section 192 – Attribution to guarantor company of things done by issuing company [TIOPA 2010 s 192]
    • Section 192A – Provision for cases within Part 6A [TIOPA 2010 s 192A]
    • Section 193 – Interaction between claims under sections 174 and 192(1) [TIOPA 2010 s 193]
    • Section 194 – Claims under section 192(1): general provisions [TIOPA 2010 s 194]
  • ▸ Chapter 6 – Balancing payments (ss 195-204)
    • Section 195 – Qualifying conditions for purposes of section 196 [TIOPA 2010 s 195]
    • Section 196 – Balancing payments between affected persons: no charge to, or relief from, tax [TIOPA 2010 s 196]
    • Section 197 – Qualifying conditions for purposes of section 198 [TIOPA 2010 s 197]
    • Section 198 – Balancing payments by guarantor to issuer: no charge to, or relief from, tax [TIOPA 2010 s 198]
    • Section 199 – Pre-conditions for making election under section 200 [TIOPA 2010 s 199]
    • Section 200 – Election to pay tax rather than make balancing payments [TIOPA 2010 s 200]
    • Section 201 – Pre-conditions for making election under section 202 [TIOPA 2010 s 201]
    • Section 202 – Election, in guarantee case, to pay tax rather than make balancing payments [TIOPA 2010 s 202]
    • Section 203 – Elections under section 200 or 202 [TIOPA 2010 s 203]
    • Section 204 – Meaning of “capital market condition” in sections 199 and 201 [TIOPA 2010 s 204]
  • ▸ Chapter 7 – Oil-related ring-fence trades (ss 205-206A)
    • Section 205 – Provision made or imposed between ring-fence trade and other activities [TIOPA 2010 s 205]
    • Section 206 – Meaning of “oil-related ring-fence trade” in sections 205 and 218 [TIOPA 2010 s 206]
    • Section 206A – Modification of basic rule where allowances restricted for certain expenditure [TIOPA 2010 s 206A]
  • ▸ Chapter 8 – Supplementary provisions and interpretation of Part (ss 207-217)
    • Unit trusts (s 207)
    • Determinations requiring Commissioners' sanction (ss 208-211)
    • Appeals (s 212)
    • Effect of Part on capital allowances and chargeable gains (ss 213-214)
    • Adjustments (s 215)
    • Definitions (ss 216-217)
▸ Part 5 – Advance pricing agreements (ss 218-230)
  • Section 218 – Meaning of “advance pricing agreement” [TIOPA 2010 s 218]
  • Section 219 – Meaning of “associate” in section 218(2)(e) [TIOPA 2010 s 219]
  • Section 220 – Effect of agreement on party to it [TIOPA 2010 s 220]
  • Section 221 – Effect of revocation of agreement or breach of its conditions [TIOPA 2010 s 221]
  • Section 222 – Effect of agreement on non-parties [TIOPA 2010 s 222]
  • Section 223 – Application for agreement [TIOPA 2010 s 223]
  • Section 224 – Provision in agreement about years ended or begun before agreement made [TIOPA 2010 s 224]
  • Section 225 – Modification and revocation of agreement [TIOPA 2010 s 225]
  • Section 226 – Annulment of agreement for misrepresentation [TIOPA 2010 s 226]
  • Section 227 – Penalty for misrepresentation in connection with agreement [TIOPA 2010 s 227]
  • Section 228 – Party to agreement: duty to provide information [TIOPA 2010 s 228]
  • Section 229 – Modifications of agreement for double taxation purposes [TIOPA 2010 s 229]
  • Section 230 – Interpretation of Part: meaning of “Commissioners” and “officer” [TIOPA 2010 s 230]
▸ Part 6 – Tax arbitrage (ss 231-259)
  • ▸ Introduction (s 231)
    • Section 231 – Overview [TIOPA 2010 s 231]
  • ▸ Deduction notices (ss 232-235)
    • Section 232 – Deduction notices [TIOPA 2010 s 232]
    • Section 233 – The deduction scheme conditions [TIOPA 2010 s 233]
    • Section 234 – Schemes achieving UK tax advantage for a company [TIOPA 2010 s 234]
    • Section 235 – Further provisions about deduction notices [TIOPA 2010 s 235]
  • ▸ Deduction schemes (ss 236-242)
    • Section 236 – Schemes involving hybrid entities [TIOPA 2010 s 236]
    • Section 237 – Instruments of alterable character [TIOPA 2010 s 237]
    • Section 238 – Shares subject to conversion [TIOPA 2010 s 238]
    • Section 239 – Securities subject to conversion [TIOPA 2010 s 239]
    • Section 240 – Debt instruments treated as equity [TIOPA 2010 s 240]
    • Section 241 – Scheme including issue of shares not conferring qualifying beneficial entitlement [TIOPA 2010 s 241]
    • Section 242 – Scheme including transfer of rights under a security [TIOPA 2010 s 242]
  • ▸ Consequences of deduction notices (ss 243-248)
    • Section 243 – Consequences of deduction notices [TIOPA 2010 s 243]
    • Section 244 – The rule against double deduction [TIOPA 2010 s 244]
    • Section 245 – Application of the rule against deduction for untaxable payments [TIOPA 2010 s 245]
    • Section 246 – Cases where payee’s non-liability treated as not a result of scheme [TIOPA 2010 s 246]
    • Section 247 – Cases where payee treated as having reduced liability as a result of scheme [TIOPA 2010 s 247]
    • Section 248 – The rule against deduction for untaxable payments [TIOPA 2010 s 248]
  • ▸ Receipt notices (ss 249-254)
    • Section 249 – Receipt notices [TIOPA 2010 s 249]
    • Section 250 – The receipt scheme conditions [TIOPA 2010 s 250]
    • Section 251 – Amounts within corporation tax [TIOPA 2010 s 251]
    • Section 252 – Further provisions about receipt notices [TIOPA 2010 s 252]
    • Section 253 – Exception for dealers [TIOPA 2010 s 253]
    • Section 254 – Rule for calculation or recalculation of income etc. following receipt notice [TIOPA 2010 s 254]
  • ▸ General provisions about deduction notices and receipt notices (ss 255-257)
    • Section 255 – Notices given before tax return made [TIOPA 2010 s 255]
    • Section 256 – Notices given after tax return made [TIOPA 2010 s 256]
    • Section 257 – Amendments, closure notices and discovery assessments where section 256 applies [TIOPA 2010 s 257]
  • ▸ Interpretation (ss 258-259)
    • Section 258 – Schemes and series of transactions [TIOPA 2010 s 258]
    • Section 259 – Minor definitions [TIOPA 2010 s 259]
▸ Part 6A – Hybrid and other mismatches (ss 259A-259NF)
  • ▸ Chapter 1 – Introduction (s 259A)
    • Section 259A – Overview of Part [TIOPA 2010 s 259A]
  • ▸ Chapter 2 – Key definitions (ss 259B-259BF)
    • Meaning of “tax” (s 259B)
    • Equivalent provision to this Part under foreign law (s 259BA)
    • Payments and quasi-payments etc. (s 259BB)
    • Ordinary income (ss 259BC-259BD)
    • Hybrid entity etc. (s 259BE)
    • Permanent establishments (s 259BF)
  • ▸ Chapter 3 – Hybrid and other mismatches from financial instruments (ss 259C-259CE)
    • Introduction (s 259C)
    • Application of Chapter (ss 259CA-259CC)
    • Counteraction (ss 259CD-259CE)
  • ▸ Chapter 4 – Hybrid transfer deduction/non-inclusion mismatches (ss 259D-259DG)
    • Introduction (s 259D)
    • Application of Chapter (ss 259DA-259DE)
    • Counteraction (ss 259DF-259DG)
  • ▸ Chapter 5 – Hybrid payer deduction/non-inclusion mismatches (ss 259E-259ED)
    • Introduction (s 259E)
    • Application of Chapter (ss 259EA-259EB)
    • Counteraction (ss 259EC-259ED)
  • ▸ Chapter 6 – Deduction/non-inclusion mismatches relating to transfers by permanent establishments (ss 259F-259FC)
    • Introduction (s 259F)
    • Application of Chapter (s 259FA)
    • Counteraction (ss 259FB-259FC)
  • ▸ Chapter 7 – Hybrid payee deduction/non-inclusion mismatches (ss 259G-259GE)
    • Introduction (s 259G)
    • Application of Chapter (ss 259GA-259GB)
    • Counteraction (ss 259GC-259GE)
  • ▸ Chapter 8 – Multinational payee deduction/non-inclusion mismatches (ss 295H-295HC)
    • Introduction (s 259H)
    • Application of Chapter (ss 259HA-259HB)
    • Counteraction (s 259HC)
  • ▸ Chapter 9 – Hybrid entity double deduction mismatches (ss 259I-259ID)
    • Introduction (s 259I)
    • Application of Chapter (s 259IA)
    • Counteraction (ss 259IB-259ID)
  • ▸ Chapter 10 – Dual territory double deduction cases (ss 259J-259JD)
    • Introduction (s 259J)
    • Application of Chapter (s 259JA)
    • Counteraction (ss 259JB-259JE)
  • ▸ Chapter 11 – Imported mismatches (ss 259K-259KD)
    • Introduction (s 259K)
    • Application of Chapter (ss 259KA-259KB)
    • Counteraction (ss 259KC-259KF)
  • ▸ Chapter 12 – Adjustments in light of subsequent events etc. (ss 259L-259LB)
    • Section 259L – Adjustments where suppositions cease to be reasonable [TIOPA 2010 s 259L]
    • Section 259LA – Deduction from taxable total profits where an amount of ordinary income arises late [TIOPA 2010 s 259LA]
    • Section 259LB – Adjustments in light of later treatment for accounting purposes [TIOPA 2010 s 259LB]
  • ▸ Chapter 12A – Allocation of dual inclusion income within group (ss 259ZM-259ZMF)
    • Introduction (s 259ZM)
    • Application of Chapter (s 259ZMA)
    • Allocation of DII surplus (ss 259ZMB-259ZMD)
    • Groups (s 259ZME)
    • “Dual inclusion income” and “counteraction amount” (s 259ZMF)
  • ▸ Chapter 13 – Anti-avoidance (s 259M)
    • Section 259M – Countering the effect of avoidance arrangements [TIOPA 2010 s 259M]
  • ▸ Chapter 13A – Special provision concerning transparent funds (ss 259MA-MD)
    • Section 259MA – Meaning of “transparent fund” [TIOPA 2010 s 259MA]
    • Section 259MB – Application of Chapters 3, 4, 5 and 7 [TIOPA s 259MB]
    • Section 259MC – Application of Chapter 9 [TIOPA 2010 s 259MC]
    • Section 259MD – Application of Chapter 11 [TIOPA 2010 s 259MD]
  • ▸ Chapter 14 – Interpretation (ss 259N-259NF)
    • Financial instruments (s 259N)
    • Relevant investment funds (s 259NA)
    • Control groups and related persons (ss 259NB-259ND)
    • Qualifying institutional investors etc. (s 259NDA)
    • Partnerships (s 259NE)
    • Securitisation companies (s 259NEZA)
    • Priority (s 259NEA)
    • Relevant debt relief circumstances (ss 259NEB-259NEF)
    • Definitions (s 259NF)
▸ Part 7 – Tax treatment of financing costs and income (ss 260-353B)
  • ▸ Chapter 1 – Introduction (ss 260)
    • Section 260 – Introduction [TIOPA 2010 s 260]
  • ▸ Chapter 2 – Application of Part (ss 261-273A)
    • Section 261 – Application of Part [TIOPA 2010 s 261]
    • Section 262 – UK net debt of worldwide group for period of account of worldwide group [TIOPA 2010 s 262]
    • Section 263 – Net debt of a company [TIOPA 2010 s 263]
    • Section 264 – Worldwide gross debt of worldwide group for period of account of the group [TIOPA 2010 s 264]
    • Section 265 – References to amounts disclosed in balance sheet of company [a] [TIOPA 2010 s 265]
    • Section 265A – Different accounting treatment used at company and group levels [TIOPA 2010 s 265A]
    • Section 266 – Qualifying financial services groups [TIOPA 2010 s 266]
    • Section 267 – Qualifying activities [TIOPA 2010 s 267]
    • Section 268 – Lending activities and activities ancillary to lending activities [TIOPA 2010 s 268]
    • Section 269 – Insurance activities and insurance-related activities [TIOPA 2010 s 269]
    • Section 270 – Relevant dealing in financial instruments [TIOPA 2010 s 270]
    • Section 271 – UK trading income of the worldwide group [TIOPA 2010 s 271]
    • Section 272 – Worldwide trading income of the worldwide group [TIOPA 2010 s 272]
    • Section 273 – Foreign currency accounting [TIOPA 2010 s 273]
    • Section 273A – Meaning of “group securitisation company” [TIOPA 2010 s 273A]
  • ▸ Chapter 3 – Disallowance of deductions (ss 274-285)
    • Section 274 – Application of Chapter and meaning of “total disallowed amount” [TIOPA 2010 s 274]
    • Section 275 – Meaning of “company to which this Chapter applies” [TIOPA 2010 s 275]
    • Section 275A – Meaning of “dual resident investing company” [TIOPA 2010 s 275A]
    • Section 276 – Appointment of authorised company for relevant period of account [TIOPA 2010 s 276]
    • Section 277 – Meaning of “the reporting body” [TIOPA 2010 s 277]
    • Section 278 – Statement of allocated disallowances: submission [TIOPA 2010 s 278]
    • Section 279 – Statement of allocated disallowances: submission of revised statement [TIOPA 2010 s 279]
    • Section 280 – Statement of allocated disallowances: requirements [TIOPA 2010 s 280]
    • Section 280A – Statement of allocated disallowances: dual resident investing companies [TIOPA 2010 s 280A]
    • Section 281 – Statement of allocated disallowances: effect [TIOPA 2010 s 281]
    • Section 282 – Company tax returns [TIOPA 2010 s 282]
    • Section 283 – Power to make regulations about statement of allocated disallowances [TIOPA 2010 s 283]
    • Section 284 – Failure of reporting body to submit statement of allocated disallowances [TIOPA 2010 s 284]
    • Section 284A – Section 284: supplementary [TIOPA 2010 s 284A]
    • Section 285 – Powers to make regulations in relation to reductions under section 284 [TIOPA 2010 s 285]
  • ▸ Chapter 4 – Exemption of financing income (ss 286-298A)
    • Section 286 – Application of Chapter and meaning of “total disallowed amount” [TIOPA 2010 s 286]
    • Section 287 – Meaning of “company to which this Chapter applies” [TIOPA 2010 s 287]
    • Section 288 – Appointment of authorised company for relevant period of account [TIOPA 2010 s 288]
    • Section 289 – Meaning of “the reporting body” [TIOPA 2010 s 289]
    • Section 290 – Statement of allocated exemptions: submission [TIOPA 2010 s 290]
    • Section 291 – Statement of allocated exemptions: submission of revised statement [TIOPA 2010 s 291]
    • Section 292 – Statement of allocated exemptions: requirements [TIOPA 2010 s 292]
    • Section 293 – Statement of allocated exemptions: effect [TIOPA 2010 s 293]
    • Section 294 – Company tax returns [TIOPA 2010 s 294]
    • Section 295 – Power to make regulations about statement of allocated exemptions [TIOPA 2010 s 295]
    • Section 296 – Failure of reporting body to submit statement of allocated exemptions [TIOPA 2010 s 296]
    • Section 297 – Power to make regulations in relation to reductions under section 296 [TIOPA 2010 s 297]
    • Section 298 – Balancing payments between group companies: no tax charge or relief [TIOPA 2010 s 298]
    • Section 298A – Application of Chapter to financing income amounts determined under section 314A [TIOPA 2010 s 298A]
  • ▸ Chapter 5 – Intra-group financing income where payer denied deduction (ss 299-305)
    • Section 299 – Tax exemption for certain financing income received from EEA companies [TIOPA 2010 s299]
    • Section 300 – Meaning of “relevant associate” [TIOPA 2010 s 300]
    • Section 301 – Meaning of “tax-resident” and “EEA territory” [TIOPA 2010 s 301]
    • Section 302 – Qualifying EEA tax relief for payment in current or previous period [TIOPA 2010 s 302]
    • Section 303 – Qualifying EEA tax relief for payment in future period [TIOPA 2010 s 303]
    • Section 304 – References to tax of a territory [TIOPA 2010 s 304]
    • Section 305 – Financing income amounts of a company [TIOPA 2010 s 305]
  • ▸ Chapter 6 – Tax avoidance (ss 305A-312)
    • Section 305A – Schemes preventing this Part applying to a large group [TIOPA 2010 s 305A]
    • Section 306 – Schemes involving manipulation of rules in Chapter 2 [TIOPA 2010 s 306]
    • Section 307 – Schemes involving manipulation of rules in Chapters 3 and 4 [TIOPA 2010 s 307]
    • Section 308 – Meaning of “relevant net deduction” [TIOPA 2010 s 308]
    • Section 309 – Calculation of amounts [TIOPA 2010 s 309]
    • Section 310 – Meaning of “carried-back amount” and “carried-forward amount” [TIOPA 2010 s 310]
    • Section 311 – Schemes involving manipulation of rules in Chapter 5 [TIOPA 2010 s 311]
    • Section 312 – Meaning of “scheme” and “excluded scheme” [TIOPA 2010 s 312]
  • ▸ Chapter 7 – “Financing expense amount” and “financing income amount” (ss 313-328)
    • Section 313 – The financing expense amounts of a company [TIOPA 2010 s 313]
    • Section 314 – The financing income amounts of a company [TIOPA 2010 s 314]
    • Section 314A – The financing income amounts of a chargeable company under Part 9A [TIOPA 2010 s 314A]
    • Section 315 – Interpretation of sections 313 and 314 [TIOPA 2010 s 315]
    • Section 316 – Group treasury companies [TIOPA 2010 s 316]
    • Section 317 – Real estate investment trusts [TIOPA 2010 s 317]
    • Section 317A – Companies with permanent establishments profits election [TIOPA 2010 s 317A]
    • Section 318 – Companies engaged in oil extraction activities [TIOPA 2010 s 318]
    • Section 318A – Industrial and provident societies [TIOPA 2010 s 318A]
    • Section 319 – Intra-group short-term finance: financing expense [TIOPA 2010 s 319]
    • Section 320 – Intra-group short-term finance: financing income [TIOPA 2010 s 320]
    • Section 321 – Short-term loan relationships [TIOPA 2010 s 321]
    • Section 322 – Stranded deficits in non-trading loan relationships: financing expense [TIOPA 2010 s 322]
    • Section 323 – Stranded deficits in non-trading loan relationships: financing income [TIOPA 2010 s 323]
    • Section 324 – Stranded management expenses in non-trading loan relationships: financing expense [TIOPA 2010 s 324]
    • Section 325 – Stranded management expenses in non-trading loan relationships: financing income [TIOPA 2010 s 325]
    • Section 326 – Charities [TIOPA 2010 s 326]
    • Section 327 – Educational and public bodies [TIOPA 2010 s 327]
    • Section 328 – Interpretation of sections 316 to 327 [TIOPA 2010 s 328]
  • ▸ Chapter 8 – “Tested expense amount” and “tested income amount” (ss 329-331ZA)
    • Section 329 – The tested expense amount [TIOPA 2010 s 329]
    • Section 330 – The tested income amount [TIOPA 2010 s 330]
    • Section 331 – Companies with net financing deduction or net financing income that is small [TIOPA 2010 s 331]
    • Section 331ZA – Elections disapplying sections 329(5) and 330(5) [TIOPA 2010 s 331ZA]
    • Section 331A – Mismatches between tax treatment and accounting treatment [TIOPA 2010 s 331A]
  • ▸ Chapter 9 – “Available amount” (ss 332-336A)
    • Section 332 – The available amount [TIOPA 2010 s 332]
    • Section 332A – Groups containing securitisation companies [TIOPA 2010 s 332A]
    • Section 332AA – Change of accounting standards: investment entities [TIOPA 2010 s 332AA]
    • Section 332B – Partnerships: expenses of borrowing [TIOPA 2010 s 332B]
    • Section 332C – Partnerships: other expenses [TIOPA 2010 s 332C]
    • Section 333 – Group members with income from oil extraction subject to particular tax treatment in UK [TIOPA 2010 s 333]
    • Section 334 – Group members with income from shipping subject to particular tax treatment in UK [TIOPA 2010 s 334]
    • Section 335 – Group members with income from property rental subject to particular tax treatment in UK [TIOPA 2010 s 335]
    • Section 336 – Meaning of accounting expressions used in this Chapter [TIOPA 2010 s 336]
    • Section 336A – Mismatches between tax treatment and accounting treatment [TIOPA 2010 s 336A]
  • ▸ Chapter 10 – Other interpretative provisions (ss 337-353B)
    • Section 337 – The worldwide group [TIOPA 2010 s 337]
    • Section 338 – Meaning of “group” [TIOPA 2010 s 338]
    • Section 339 – Meaning of “ultimate parent” [TIOPA 2010 s 339]
    • Section 340 – Meaning of “corporate entity” [TIOPA 2010 s 340]
    • Section 341 – Meaning of “relevant non-corporate entity” [TIOPA 2010 s 341]
    • Section 342 – Treatment of entities stapled to corporate, or relevant non-corporate, entities [TIOPA 2010 s 342]
    • Section 343 – Treatment of business combinations [TIOPA 2010 s 343]
    • Section 344 – Meaning of “large” in relation to a group [TIOPA 2010 s 344]
    • Section 345 – Meaning of “UK group company” and “relevant group company” [TIOPA 2010 s 345]
    • Section 346 – Financial statements of the worldwide group [TIOPA 2010 s 346]
    • Section 347 – Non-compliant financial statements of the worldwide group [TIOPA 2010 s 347]
    • Section 348 – Non-existent financial statements of the worldwide group [TIOPA 2010 s 348]
    • Section 348A – Financial statements: business combinations to which the worldwide group is a party [TIOPA 2010 s 348A]
    • Section 349 – References to amounts disclosed in financial statements [TIOPA 2010 s 349]
    • Section 350 – Translation of amounts disclosed in financial statements [TIOPA 2010 s 350]
    • Section 351 – Expressions taking their meaning from international accounting standards [TIOPA 2010 s 351]
    • Section 352 – Meaning of “relevant accounting period” [TIOPA 2010 s 352]
    • Section 353 – Other expressions [TIOPA 2010 s 353]
    • Section 353A – Effect of Part on parties to capital market arrangements [TIOPA 2010 s 353A]
    • Section 353AA – Power to make regulations where accounting standards change [TIOPA 2010 s 353AA]
    • Section 353B – Regulations and orders [TIOPA 2010 s 353B]
▸ Part 8 – Offshore funds etc. (ss 354-363A)
  • ▸ Tax treatment of participants in offshore funds (ss 354-359)
    • Section 354 – Power to make regulations about tax treatment of participants [TIOPA 2010 s 354]
    • Section 355 – Meaning of “offshore fund” [TIOPA 2010 s 355]
    • Section 356 – Meaning of “mutual fund” [TIOPA 2010 s 356]
    • Section 357 – Exceptions to definition of “mutual fund” [TIOPA 2010 s 357]
    • Section 358 – Meaning of “relevant income-producing asset” [TIOPA 2010 s 358]
    • Section 359 – Power to make regulations about exceptions to definition of “mutual fund [TIOPA 2010 s 359]
  • ▸ Supplementary (ss 360-363A)
    • Section 360 – Treatment of umbrella arrangements [TIOPA 2010 s 360]
    • Section 361 – Treatment of arrangements comprising more than one class of interest [TIOPA 2010 s 361]
    • Section 362 – Meaning of “participant” and “participation” [TIOPA 2010 s 362]
    • Section 363 – Meaning of “umbrella arrangements” and “part of umbrella arrangements” [TIOPA 2010 s 363]
    • Section 363A – Residence of undertakings for collective investment in transferable securities and alterative investment funds [TIOPA 2010 s 363A]
▸ Part 9 – Amendments to relocate provisions of tax legislation (ss 364-371)
  • Section 364 – Oil activities [TIOPA 2010 s 364]
  • Section 365 – Alternative finance arrangements [TIOPA 2010 s 365]
  • Section 366 – Power to amend the alternative finance provisions [TIOPA 2010 s 366]
  • Section 367 – Leasing arrangements: finance leases and loans [TIOPA 2010 s 367]
  • Section 368 – Sale and lease-back etc [TIOPA 2010 s 368]
  • Section 369 – Factoring of income etc [TIOPA 2010 s 369]
  • Section 370 – UK representatives of non-UK residents [TIOPA 2010 s 370]
  • Section 371 – Miscellaneous relocations [TIOPA 2010 s 371]
▸ Part 9A – Controlled foreign companies (ss 371AA-371VJ)
  • ▸ Chapter 1 – Overview (ss 371AA)
    • Section 371AA – Overview of Part [TIOPA 2010 s 371AA]
  • ▸ Chapter 2 – The CFC charge (ss 371BA-371BI)
    • Section 371BA – Introduction to the CFC charge [TIOPA 2010 s 371BA]
    • Section 371BB – The CFC charge gateway [TIOPA 2010 s 371BB]
    • Section 371BC – Charging the CFC charge [TIOPA 2010 s 371BC]
    • Section 371BD – Chargeable companies [TIOPA 2010 s 371BD]
    • Section 371BE – Companies which are managers of offshore funds etc [TIOPA 2010 s 371BE]
    • Section 371BF – Companies which are participants in offshore funds [TIOPA 2010 s 371BF]
    • Section 371BG – Companies holding shares as trading assets etc. [TIOPA 2010 s 371BG]
    • Section 371BH – Companies carrying on BLAGAB [TIOPA 2010 s 371BH]
    • Section 371BI – Banking companies [TIOPA 2010 s 371BI]
  • ▸ Chapter 3 – The CFC charge gateway: determining which (if any) of Chapters 4 to 8 applies (ss 371CA-371CG)
    • Section 371CA – Does Chapter 4 apply? [TIOPA 2010 s 371CA]
    • Section 371CB – Does Chapter 5 apply? [TIOPA 2010 s 371CB]
    • Section 371CC – Incidental non-trading finance profits: the 5% rule [TIOPA 2010 s 371CC]
    • Section 371CD – Incidental non-trading finance profits: the further 5% rule [TIOPA 2010 s 371CD]
    • Section 371CE – Does Chapter 6 apply? [TIOPA 2010 s 371CE]
    • Section 371CEA – Section 371CE: meaning of “group treasury company” [TIOPA 2010 s 371CEA]
    • Section 371CF – Does Chapter 7 apply? [TIOPA 2010 s 371CF]
    • Section 371CG – Does Chapter 8 apply? [TIOPA 2010 s 371CG]
  • ▸ Chapter 4 – The CFC charge gateway: profits attributable to UK activities (ss 371DA-371DL)
    • Section 371DA – Introduction to Chapter [TIOPA 2010 s 371DA]
    • Section 371DB – The steps [TIOPA 2010 s 371DB]
    • Section 371DC – Exclusion: UK activities a minority of total activities [TIOPA 2010 s 371DC]
    • Section 371DD – Exclusion: economic value [TIOPA 2010 s 371DD]
    • Section 371DE – Exclusion: independent companies' arrangements [TIOPA 2010 s 371DE]
    • Section 371DF – Exclusion: trading profits (the basic rule) [TIOPA 2010 s 371DF]
    • Section 371DG – Exclusion: trading profits (business premises condition) [TIOPA 2010 s 371DG]
    • Section 371DH – Exclusion: trading profits (income condition) [TIOPA 2010 s 371DH]
    • Section 371DI – Exclusion: trading profits (management expenditure condition) [TIOPA 2010 s 371DI]
    • Section 371DJ – Exclusion: trading profits (IP condition) [TIOPA 2010 s 371DJ]
    • Section 371DK – Exclusion: trading profits (export of goods condition) [TIOPA 2010 s 371DK]
    • Section 371DL – Exclusion: trading profits (anti-avoidance) [TIOPA 2010 s 371DL]
  • ▸ Chapter 5 – The CFC charge gateway: Non-trading finance profits (ss 371EA-371EE)
    • Section 371EA – The basic rule [TIOPA 2010 s 371EA]
    • Section 371EB – UK activities [TIOPA 2010 s 371EB]
    • Section 371EC – Capital investment from the UK [TIOPA 2010 s 371EC]
    • Section 371ED – Arrangements in lieu of dividends etc. to UK resident companies etc. [TIOPA 2010 s 371ED]
    • Section 371EE – Leases to UK resident companies etc. [TIOPA 2010 s 371EE]
  • ▸ Chapter 6 – The CFC charge gateway: trading finance profits (ss 371FA-371FE)
    • Section 371FA – The basic rule [TIOPA 2010 s 371FA]
    • Section 371FB – Qualifying loan relationships [TIOPA 2010 s 371FB]
    • Section 371FC – Loans from foreign permanent establishments of UK resident companies [TIOPA 2010 s 371FC]
    • Section 371FD – Exclusion: banking business [TIOPA 2010 s 371FD]
    • Section 371FE – Exclusion: insurance business [TIOPA 2010 s 371FE]
  • ▸ Chapter 7 – The CFC charge gateway: captive insurance business (ss 371GA)
    • Section 371GA – The basic rule [TIOPA 2010 s 371GA]
  • ▸ Chapter 8 – The CFC charge gateway: solo consolidation (ss 371HA)
    • Section 371HA – The basic rule [TIOPA 2010 s 371HA]
  • ▸ Chapter 9 – Exemptions for profits from qualifying loan relationships (ss 371IA-371IJ)
    • Section 371IA – The basic rule [TIOPA 2010 s 371IA]
    • Section 371IB – Loans funded out of qualifying resources [TIOPA 2010 s 371IB]
    • Section 371IC – What is the “qualifying value” of “relevant pre-acquisition funds or other assets”? [TIOPA 2010 s 371IC]
    • Section 371ID – The 75% exemption [TIOPA 2010 s 371ID]
    • Section 371IE – Matched interest [TIOPA 2010 s 371IE]
    • Section 371IF – Determining the profits of a qualifying loan relationship [TIOPA 2010 s 371IF]
    • Section 371IG – What is a “qualifying loan relationship”? [TIOPA 2010 s 371IG]
    • Section 371IH – Exclusions from definition of “qualifying loan relationship” [TIOPA 2010 s 371IH]
    • Section 371II – Power to amend definitions [TIOPA 2010 s 371II]
    • Section 371IJ – Claims [TIOPA 2010 s 371IJ]
  • ▸ Chapter 10 – The exempt period exemption (ss 371JA-371JG)
    • Section 371JA – Introduction to Chapter [TIOPA 2010 s 371JA]
    • Section 371JB – The basic rule [TIOPA 2010 s 371JB]
    • Section 371JC – When does an exempt period begin? [TIOPA 2010 s 371JC]
    • Section 371JD – How long is an exempt period? [TIOPA 2010 s 371JD]
    • Section 371JE – Adjustment of profits passing through the CFC charge gateway [TIOPA 2010 s 371JE]
    • Section 371JF – Anti-avoidance [TIOPA 2010 s 371JF]
    • Section 371JG – Amendment of company tax returns [TIOPA 2010 s 371JG]
  • ▸ Chapter 11 – The excluded territories exemption (ss 371KA-371KJ)
    • Section 371KA – Introduction to Chapter [TIOPA 2010 s 371KA]
    • Section 371KB – The basic rule [TIOPA 2010 s 371KB]
    • Section 371KC – How to determine the territory in which a CFC is resident [TIOPA 2010 s 371KC]
    • Section 371KD – What is “the threshold amount”? [TIOPA 2010 s 371KD]
    • Section 371KE – Category A income: the basic rule [TIOPA 2010 s 371KE]
    • Section 371KF – Category A income: permanent establishments in excluded territories [TIOPA 2010 s 371KF]
    • Section 371KG – Category B income [TIOPA 2010 s 371KG]
    • Section 371KH – Category C income [TIOPA 2010 s 371KH]
    • Section 371KI – Category D income [TIOPA 2010 s 371KI]
    • Section 371KJ – The IP condition [TIOPA 2010 s 371KJ]
  • ▸ Chapter 12 – The low profits exemption (ss 371LA-371LC)
    • Section 371LA – Introduction to Chapter [TIOPA 2010 s 371LA]
    • Section 371LB – The basic rule [TIOPA 2010 s 371LB]
    • Section 371LC – Anti-avoidance [TIOPA 2010 s 371LC]
  • ▸ Chapter 13 – The low profit margin exemption (ss 371MA-371MC)
    • Section 371MA – Introduction to Chapter [TIOPA 2010 s 371MA]
    • Section 371MB – The basic rule [TIOPA 2010 s 371MB]
    • Section 371MC – Anti-avoidance [TIOPA 2010 s 371MC]
  • ▸ Chapter 14 – The tax exemption (ss 371NA-371NE)
    • Section 371NA – Introduction to Chapter [TIOPA 2010 s 371NA]
    • Section 371NB – The basic rule [TIOPA 2010 s 371NB]
    • Section 371NC – Reductions to “the local tax amount” [TIOPA 2010 s 371NC]
    • Section 371ND – What are “designer rate tax provisions”? [TIOPA 2010 s 371ND]
    • Section 371NE – How to determine “the corresponding UK tax” [TIOPA 2010 s 371NE]
  • ▸ Chapter 15 – Relevant interests in a CFC (ss 371OA-371OE)
    • Introduction (ss 371OA-371OB)
    • What is a “relevant interest” in a CFC? (ss 371OC-371OE)
  • ▸ Chapter 16 – Creditable tax of a CFC (ss 371PA)
    • Section 371PA – What is “creditable tax”? [TIOPA 2010 s 371PA]
  • ▸ Chapter 17 – Apportionment of a CFC's chargeable profit and creditable tax (ss 371QA-371QG)
    • Introduction (ss 371QA-371QB)
    • How are the apportionments to be made? (ss 371QC-371QG)
  • ▸ Chapter 18 – Control (ss 371RA-371RG)
    • Section 371RA – Overview of Chapter [TIOPA 2010 s 371RA]
    • Section 371RB – Legal and economic control [TIOPA 2010 s 371RB]
    • Section 371RC – Legal and economic control: the 40% rule [TIOPA 2010 s 371RC]
    • Section 371RD – Legal and economic control: supplementary provision [TIOPA 2010 s 371RD]
    • Section 371RE – Control determined by reference to accounting standards [TIOPA 2010 s 371RE]
    • Section 371RF – Power to amend section 371RE etc. [TIOPA 2010 s 371RF]
    • Section 371RG – Companies in which a UK resident company has more than a 50% investment [TIOPA 2010 s 371RG]
  • ▸ Chapter 19 – Assumed taxable total profits, assumed total profits and the corporation tax assumptions (ss 371SA-371SR)
    • Overview (s 371SA)
    • “Assumed taxable total profits” and “assumed total profits” (s 371SB)
    • “The corporation tax assumptions” (ss 371SC-371SR)
  • ▸ Chapter 20 – Residence of CFC's (ss 371TA-371TC)
    • Section 371TA – The basic rule [TIOPA 2010 s 371TA]
    • Section 371TB – How to determine the territory in which the CFC is resident [TIOPA 2010 s 371TB]
    • Section 371TC – Elections and designations about residence [TIOPA 2010 s 371TC]
  • ▸ Chapter 21 – Management (ss 371UA-371UF)
    • Section 371UA – Introduction to Chapter [TIOPA 2010 s 371UA]
    • Section 371UB – Application of the Taxes Acts to the CFC charge [TIOPA 2010 s 371UB]
    • Section 371UBA – Payments in respect of a charge on a banking company: information to be provided [TIOPA 2010 s 371UBA]
    • Section 371UC – Just and reasonable apportionments [TIOPA 2010 s 371UC]
    • Section 371UD – Relief against sum charged [TIOPA 2010 s 371UD]
    • Section 371UE – Appeals affecting more than one person [TIOPA 2010 s 371UE]
    • Section 371UF – Recovery of sum charged from other UK resident companies [TIOPA 2010 s 371UF]
  • ▸ Chapter 22 – Supplementary provision (ss 371VA-371VJ)
    • Section 371VA – Definitions [TIOPA 2010 s 371VA]
    • Section 371VB – Accounting periods [TIOPA 2010 s 371VB]
    • Section 371VC – Accounting profits [TIOPA 2010 s 371VC]
    • Section 371VD – Adjustments to accounting profits [TIOPA 2010 s 371VD]
    • Section 371VE – Cell companies etc. [TIOPA 2010 s 371VE]
    • Section 371VF – Connected persons etc. [TIOPA 2010 s 371VF]
    • Section 371VG – Finance profits [TIOPA 2010 s 371VG]
    • Section 371VH – Interests in companies [TIOPA 2010 s 371VH]
    • Section 371VI – Property business profits [TIOPA 2010 s 371VI]
    • Section 371VIA – Relevant finance leases [TIOPA 2010 s 371VIA]
    • Section 371VJ – Regulations [TIOPA 2010 s 371VJ]
▸ Part 10 – Corporate interest restriction (ss 372-498)
  • ▸ Chapter 1 – Introduction (ss 372-374)
    • Section 372 – Overview [TIOPA 2010 s 372]
    • Section 373 – Meaning of “subject to interest restrictions”, “the total disallowed amount” etc. [TIOPA 2010 s 373]
    • Section 374 – Interest restriction returns [TIOPA 2010 s 374]
  • ▸ Chapter 2 – Disallowance and reactivation of tax-interest expense amounts (ss 375-381)
    • Section 375 – Disallowance of deductions: full interest restriction return submitted [TIOPA 2010 s 375]
    • Section 376 – Disallowance of deductions: no return, or non-compliant return, submitted [TIOPA 2010 s 376]
    • Section 377 – Disallowance of deductions: identification of the tax-interest amounts to be left out of account [TIOPA 2010 s 377]
    • Section 378 – Disallowed tax-interest expense amounts carried forward [TIOPA 2010 s 378]
    • Section 379 – Reactivation of interest [TIOPA 2010 s 379]
    • Section 380 – Reactivation of deductions: identification of the tax-interest amounts to be brought into account [TIOPA 2010 s 380]
    • Section 381 – Set-off of disallowances and reactivations in the same accounting period [TIOPA 2010 s 381]
  • ▸ Chapter 3 – Tax-interest amounts (ss 382-391A)
    • Tax-interest expense and income amounts: basic rules (ss 382-387)
    • Double taxation relief (s 388)
    • Net tax-interest expense (ss 389-390)
    • Interpretation (ss 391-391A)
  • ▸ Chapter 4 – Interest capacity (ss 392-395A)
    • Section 392 – The interest capacity of a worldwide group for a period of account [TIOPA 2010 s 392]
    • Section 393 – Amount of interest allowance for a period that is “available” in a later period [TIOPA 2010 s 393]
    • Section 394 – When interest allowance is “used” [TIOPA 2010 s 394]
    • Section 395 – Amount of interest allowance for a period of account that is “unexpired” in later period [TIOPA 2010 s 395]
    • Section 395A – Carry forward of interest allowance: new holding company [TIOPA 2010 s 395A]
  • ▸ Chapter 5 – Interest allowance (ss 396-404)
    • Interest allowance (ss 396-400A)
    • Effect of group ratio (blended) election (ss 401-404)
  • ▸ Chapter 6 – Tax-EBITDA (ss 405-409)
    • Section 405 – The aggregate tax-EBITDA of a worldwide group [TIOPA 2010 s 405]
    • Section 406 – The tax-EBITDA of a company [TIOPA 2010 s 406]
    • Section 407 – Amounts not brought into account in determining a company’s tax-EBITDA [TIOPA 2010 s 407]
    • Section 408 – Excluded relevant intangibles debits and excluded relevant intangibles credits [TIOPA 2010 s 408]
    • Section 409 – Double taxation relief [TIOPA 2010 s 409]
  • ▸ Chapter 7 – Group-interest and group-EBITDA (ss 410-431)
    • Group-interest (ss 410-415)
    • Group-EBITDA (ss 416-419)
    • Treatment of derivative contracts in financial statements of worldwide group (ss 420-421)
    • Effect of group-EBITDA (chargeable gains) election (s 422)
    • Effect of interest allowance (alternative calculation) election (ss 423-426)
    • Effect of interest allowance (non-consolidated investment) election (ss 427-429)
    • Effect of interest allowance (consolidated partnerships) election (s 430)
    • Interpretation (s 431)
  • ▸ Chapter 8 – Public infrastructure (ss 432-449)
    • Overview (s 432)
    • Key concepts (ss 433-437)
    • Exemption and related provision (ss 438-443)
    • Supplementary (ss 444-449)
  • ▸ Chapter 9 – Cases involving particular types of company or business (ss 450-460)
    • Banking companies (s 450)
    • Oil and gas (s 451)
    • REITs (s 452)
    • Insurance companies etc. (ss 453-454)
    • Investment managers (s 454A)
    • Shipping companies (s 455)
    • Fair value accounting (ss 456-457)
    • Exemption for tax-interest expense or income amounts (ss 458-459)
    • Leases (s 460)
  • ▸ Chapter 10 – Anti-avoidance (s 461)
    • Section 461 – Counteracting effect of avoidance arrangements [TIOPA 2010 s 461]
  • ▸ Chapter 11 – Interpretation etc. (ss 462-498)
    • Related parties (ss 462-472)
    • Determining the worldwide group (ss 473-478)
    • Financial statements and periods of account (ss 479-489)
    • Other definitions (ss 490-494)
    • Regulations (ss 495-498)
▸ Part 11 – General provisions (ss 499-507)
  • ▸ Subordinate legislation (s 499)
    • Section 499 – Orders and regulations [TIOPA 2010 s 499]
  • ▸ Interpretation (s 500)
    • Section 500 – Abbreviated references to Acts [TIOPA 2010 s 500]
  • ▸ Final provisions (ss 501-507)
    • Section 501 – Minor and consequential amendments [TIOPA 2010 s 501]
    • Section 502 – Transitional provisions and savings [TIOPA 2010 s 502]
    • Section 503 – Repeals and revocations [TIOPA 2010 s 503]
    • Section 504 – Index of defined expressions [TIOPA 2010 s 504]
    • Section 505 – Extent [TIOPA 2010 s 505]
    • Section 506 – Commencement [TIOPA 2010 s 506]
    • Section 507 – Short title [TIOPA 2010 s 507]
▸ Schedules
  • Schedule 1 Oil activities: new Chapter 16A of Part 2 of ITTOIA 2005 [TIOPA 2010 Sch 1]
  • ▸ Schedule 2 Alternative finance arrangements [TIOPA 2010 Sch 2]
    • Part 1 – New Part 10A of ITA 2007 (paras 1-26)
    • Part 2 – New Chapter 4 of Part 4 of TCGA 1992 (paras 27-45)
    • Part 3 – Other amendments (paras 46-55)
  • ▸ Schedule 3 Leasing arrangements: finance leases and loans [TIOPA 2010 Sch 3]
    • Part 1 – New Part 11A of ITA 2007 (paras 1-5)
    • Part 2 – New section 37A of TCGA 1992 (paras 6-7)
  • Schedule 4 Sale and lease-back etc.: new Part 12A of ITA 2007 [TIOPA 2010 Sch 4]
  • Schedule 5 Factoring of income etc.: new Chapters 5B and 5C of Part 13 of ITA 2007 [TIOPA 2010 Sch 5]
  • ▸ Schedule 6 UK Representatives of non-UK residents [TIOPA 2010 Sch 6]
    • Part 1 – New Chapters 2B and 2C of Part 14 of ITA 2007 (paras 1-23)
    • Part 2 – New Part 7A of TCGA 1992 (paras 24-33)
  • ▸ Schedule 7 Miscellaneous relocations [TIOPA 2010 Sch 7]
    • Part 1 – Relocation of section 38 of, and Schedule 15 to, FA 1973 (paras 1-10)
    • Part 2 – Relocation of section 24 of FA 1974 (paras 11-16)
    • Part 3 – Relocation of section 42 of ICTA (paras 17-24)
    • Part 4 – Relocation of section 84A of ICTA (paras 25-29)
    • Part 5 – Relocation of section 152 of ICTA (paras 30-34)
    • Part 6 – Relocation of section 337A(2) of ICTA (paras 35-39)
    • Part 7 – Relocation of section 475 of ICTA (paras 40-43)
    • Part 8 – Relocation of section 700 of ICTA (paras 44-47)
    • Part 9 – Relocation of section 787 of ICTA (paras 48-52)
    • Part 10 – Relocation of sections 130 to 132 of FA 1988 (paras 53-56)
    • Part 11 – Relocation of section 151 of FA 1989 (paras 57-62)
    • Part 12 – Relocation of Schedule 12 to F(No.2)A 1992 so far as applying for income tax purposes (paras 63-72)
    • Part 13 – Relocation of section 200 of FA 1996 so far as applying for income tax purposes (paras 73-77)
    • Part 14 – Relocation of section 36 of FA 1998 and section 111 of FA 2009 (paras 78-84)
    • Part 15 – Relocation of section 118 of FA 1998 (paras 85-93)
    • Part 16 – Relocation of section 144 of FA 2000 (paras 94-101)
    • Part 17 – Relocation of section 199 of FA 2003 (paras 102-106)
    • Part 18 – Relocation of section 61 of F(No.2)A 2005 (paras 107-110)
    • Part 19 – Relocation of paragraph 13 of Schedule 13 to FA 2007 (paras 111-115)
  • ▸ Schedule 7A Interest restriction returns [TIOPA 2010 Sch 7A]
    • Part 1 – The reporting company (paras 1-11)
    • Part 2 – Contents of interest restriction return (paras 12-37)
    • Part 3 – Duty to keep and preserve records (paras 38-39)
    • Part 4 – Enquiry into interest restriction return (paras 40-55)
    • Part 5 – Determinations by officers of Revenue and Customs (paras 56-59)
    • Part 6 – Information powers exercisable by members of group (paras 60-61)
    • Part 7 – Information powers exercisable by officers of Revenue and Customs (paras 62-67)
    • Part 8 – Company tax returns (paras 68-73)
    • Part 9 – Supplementary (paras 74-76)
  • ▸ Schedule 8 Minor and consequential amendments [TIOPA 2010 Sch 8]
    • Part 1 – Double taxation relief (paras 1-105)
    • Part 2 – Transfer pricing and advance pricing agreements (paras 106-150)
    • Part 3 – Tax arbitrage (paras 151-155)
    • Part 4 – Tax treatment of financing costs and income (paras 156-160)
    • Part 5 – Offshore funds (paras 161-174)
    • Part 6 – Oil activities (paras 175-193)
    • Part 7 – Alternative finance arrangements (paras 194-229)
    • Part 8 – Leasing arrangements: finance leases and loans (paras 230-239)
    • Part 9 – Sale and lease-back etc. (paras 240-263)
    • Part 10 – Factoring of income etc. (paras 264-275)
    • Part 11 – UK representatives of non-UK residents (paras 276-286)
    • Part 12 – Amendments for purposes connected with other tax law rewrite Acts (paras 287-312)
    • Part 13 – General (para 313-332)
  • ▸ Schedule 9 Transitionals and savings etc. [TIOPA 2010 Sch 9]
    • Part 1 – General provisions (paras 1-9)
    • Part 2 – Changes in the law (para 10)
    • Part 3 – Double taxation relief (paras 11-27)
    • Part 4 – Transfer pricing (para 28)
    • Part 5 – Advance pricing agreements (para 29)
    • Part 6 – Tax avoidance (arbitrage) (para 30)
    • Part 7 – Tax treatment of financing costs and income (paras 31-32)
    • Part 8 – Offshore funds (paras 33-34)
    • Part 9 – Oil activities (paras 35-36)
    • Part 10 – Alternative finance arrangements (paras 37-40)
    • Part 11 – Sale and lease-back etc. (para 41)
    • Part 12 – Factoring of income etc. (para 42-44)
    • Part 13 – Miscellaneous relocations (para 45)
  • ▸ Schedule 10 Repeals and revocations [TIOPA 2010 Sch 10]
    • Part 1 – Double taxation relief
    • Part 2 – Transfer pricing and advance pricing agreements
    • Part 3 – Tax arbitrage
    • Part 4 – Tax treatment of financing costs and income
    • Part 5 – Offshore funds
    • Part 6 – Oil activities
    • Part 7 – Alternative finance arrangements
    • Part 8 – Leasing arrangements: finance leases and loans
    • Part 9 – Sale and lease-back etc.
    • Part 10 – Factoring of income etc.
    • Part 11 – UK representatives of non-UK residents
  • ▸ Schedule 11 Index of defined expressions used in Parts 2 to 8 [TIOPA 2010 Sch 11]
    • Part 1 – Double taxation relief: index of defined expressions used in Parts 2 and 3
    • Part 2 – Transfer pricing: index of defined expressions used in Part 4
    • Part 3 – Advance pricing agreements: index of defined expressions used in Part 5
    • Part 4 – Tax arbitrage: index of defined expressions used in Part 6
    • Part 4A – Hybrid and other mismatches: index of defined expressions used in Part 6A [TIOPA 2010 Sch 10 p4A]
    • Part 5 – Tax treatment of financing costs and income: index of defined expressions used in Part 7
    • Part 6 – Offshore funds: index of defined expressions used in Part 8
    • Part 7 – Corporate interest restriction: index of defined expressions used in Part 10
Part 2 – Double taxation relief / Chapter 2 – Double taxation relief by way of credit / Calculating income or gains in respect of which credit is allowed

Calculating income or gains in respect of which credit is allowed (ss 31-32)

Contents

  • Section 31 – Calculation of income or gain where remittance basis does not apply [TIOPA 2010 s 31] Section commentary
  • Section 32 – Calculation of amount received where UK tax charged on remittance basis [TIOPA 2010 s 32] Section commentary

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