Schedules

Schedule 3Corporate interest restriction etc.

Part 1Amendments to TIOPA 2010

5Amounts not brought into account in determining a company’s tax-EBITDA

1

Section 407(1) (amounts not brought into account in determining a company’s tax-EBITDA) is amended as follows.

2

At the end of paragraph (a) insert “(or an amount which would, apart from section 388, be a tax-interest income amount);”.

3

After paragraph (g) insert—

ga

a reduction under paragraph 37(3)(b) of Schedule 5 to FA 2019 (non-UK resident companies carrying on UK property businesses etc: unrelieved amounts);