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 10: Other interpretative provisions
Section 344: Meaning of “large” in relation to a group

631.This section defines a large group as a group no member of which is within the category of micro, small and medium-sized enterprises as defined (with modifications) in the Annex to European Commission Recommendation 2003/361/EC of 6 May 2003. It is based on paragraph 85 of Schedule 15 to FA 2009.