Finance Act 2018

Public infrastructure

10In section 443 (interest capacity for group with qualifying infrastructure company etc), for subsection (2) substitute—

(2)There is an exception to the general rule (see subsections (4) and (5)) which—

(a)applies if no tax-interest income amounts of any qualifying infrastructure company (“Q”) which is a member of the group for the period are receivable from another qualifying infrastructure company which is not a member of the group for the period but is a related party of Q at any time in that period, and

(b)depends on the comparison set out in subsection (3),

and, for the purposes of paragraph (a), tax-interest income amounts are to be ignored if, having regard to all the circumstances, it is reasonable to regard the amounts as insignificant.