Explanatory Notes

Taxation (International and Other Provisions) Act 2010

2010 CHAPTER 8

18 March 2010

Commentary on Sections

Part 7: Tax treatment of financing costs and income

Chapter 9: “Available amount”
Section 336: Meaning of accounting expressions used in this Chapter

622.This section confirms that in the absence of any contrary provision, expressions used in this Chapter have the meaning given by international accounting standards. It is based on paragraph 77 of Schedule 15 to FA 2009.