SCHEDULES

SCHEDULE 11Corporate interest restriction

8Adjusted net group-interest expense: impairment debts and credits and connected companies

1

Section 413 (meaning of “adjusted net group-interest expense”) is amended as follows.

2

In subsection (3)(d)(i)—

a

for “or 323A” substitute “, 323A, 358 or 359”, and

b

omit “(cases where credits not required to be brought into account)”.

3

In subsection (4)(d)(i)—

a

after “section 323A” insert “or 354”, and

b

omit “(cases where credits not required to be brought into account)”.