Finance (No. 2) Act 2023 (c. 30)

Schedules

Schedule 3 Corporate interest restriction etc.

Part 1 Amendments to TIOPA 2010

Tax-interest expense amounts of a company: charities

2 In section 382 (the tax-interest expense amounts of a company), after subsection (1) insert—

“(1A) But, in the case of a company which is a charity (as defined in paragraph 1 of Schedule 6 to FA 2010) at the end of the period of account, references in this Part to a “tax-interest expense amount” of the company do not include references to an amount which meets Condition A, B or C.”