Finance Act 2021 (c. 26)

SCHEDULES

SCHEDULE 7 U.K. Hybrid and other mismatches

PART 9 U.K. Imported mismatches

23 U.K. After section 259KD insert—

“259KE Limit on reduction under section 259KC

(1) This section applies where, in relation to the imported mismatch payment, the relevant deduction that may be deducted from P's income for a payment period is to be reduced under section 259KC.

(2) The reduction is not to exceed the amount that the relevant mismatch would have been if the amount of the mismatch payment had been equal to the amount of the imported mismatch payment.”