{
  "url": "https://openlegislation.uk/corporation-tax-act-2010/section-357YD",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2010/section-357YD.json",
  "legislation": "ukpga/2010/4",
  "legislation_title": "Corporation Tax Act 2010",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2010",
  "path": "section/357YD",
  "kind": "section",
  "number": "357YD",
  "heading": "Further provision about amounts included, or not included, in “restitution interest”",
  "text": "(1) Interest paid to a company is not restitution interest for the purposes of this Part if—\n(a) Condition B was not met in relation to the interest until after the interest was paid, and\n(b) the amount paid was limited to simple interest at a rate equivalent to or lower than a statutory rate\n(2) Subsection (1) does not prevent so much of a relevant amount of interest determined to be due, agreed upon or otherwise paid as represents or is calculated by reference to simple interest at a rate equivalent to or lower than a statutory rate from falling within the definition of “restitution interest”.\n(3) In subsection (2) “relevant amount of interest” means an amount of interest the whole of which was paid before Condition B was met in relation to it.\n(4) Section 357YC(7) applies in relation to this section as in relation to section 357YC.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 8C inserted (18.11.2015) (with effect in accordance with s. 38(9)-(12) of the amending Act) by Finance (No. 2) Act 2015 (c. 33), s. 38(3)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 357YD(1)(b) inserted (15.1.2026) by The Corporation Tax Act 2010 (Part 8C) (Amendment) Regulations 2025 (S.I. 2025/1253), regs. 1, 4(a)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 357YD(2) inserted (15.1.2026) by The Corporation Tax Act 2010 (Part 8C) (Amendment) Regulations 2025 (S.I. 2025/1253), regs. 1, 4(b)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2010/4/section/357YD",
    "retrieved_at": "2026-10-29T09:10:29.433154+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}