[422 Group-EBITDA (chargeable gains) election]
Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

[Effect of group-EBITDA (chargeable gains) election]

[422  Group-EBITDA (chargeable gains) election]

[(1)     Where a group-EBITDA (chargeable gains) election has effect in relation to a period of account of a worldwide group (“the relevant period of account”), this Chapter applies in relation to the period subject to this section.

(2)     Section 419 (the capital (disposals) adjustment) has effect as if—

(a)     the definition of C in subsection (1) of that section did not apply, and

(b)     instead, C were defined for the purposes of that section as—

(i)     the sum of any relevant gains, less

(ii)     the sum of any relevant losses,

or,

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