[378 Disallowed tax-interest expense amounts carried forward]
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

[378  Disallowed tax-interest expense amounts carried forward]

[(1)     For the purposes of this Part a tax-interest expense amount of a company is “disallowed” in an accounting period if the company is required to leave it out of account in that accounting period under section 375 or 376.

(2)     A tax-interest expense amount of a company that is disallowed in an accounting period is (subject to the remaining provisions of this section) carried forward to subsequent accounting periods.

(3)     Where—

(a)     a tax-interest expense amount of a company would (apart from this Part) be brought into account in calculating the profits or losses of a trade carried on by the company in an accounting period,

(b)

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