SCHEDULES

SCHEDULE 20 Taxation of hybrid capital instruments

PART 2 Corporation tax, income tax and capital gains tax

Consequential amendments

8 (1) Part 10 of TIOPA 2010 (corporate interest restriction) is amended as follows.

(2) In section 413(6) (adjusted net group-interest expense: “relevant enactment”) for paragraph (b) substitute—

“(b) section 320B of CTA 2009 (hybrid capital instruments: amounts recognised in equity).”

(3) In section 415 (qualifying net group-interest expense: interpretation), omit subsection (8).