# The Corporate Interest Restriction (Consequential Amendments) Regulations 2017, Regulation 3: Amendment to the Taxation of Securitisation Companies Regulations 2006


(1) The Taxation of Securitisation Companies Regulations 2006 are amended as follows.
(2) At the end insert—
“22. (1) For the purposes of Part 10 (Corporate Interest Restriction) of TIOPA 2010—
(a) the net tax-interest income for an accounting period of the securitisation company is the sum of—
(i) the amount of profit calculated under regulation 14 for that period, and
(ii) the amount of any management fee paid in that period by the securitisation company to another UK group company in relation to the management of assets held by the securitisation company for the purposes of the capital market arrangement; and
(b) the adjusted corporation tax earnings of the securitisation company for an accounting period is a negative amount equal to the amount in paragraph (a)(ii).
(2) Section 414(3)(b) (qualifying net group-interest expense, results dependent securities) of that Act does not apply in relation to any interest paid or other distribution made by a securitisation company.”

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Source: https://www.legislation.gov.uk/uksi/2017/1227/regulation/3 (the official version)
Page: https://openlegislation.uk/corporate-interest-restriction-consequential-amendments-regulations-2017/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.