{
  "url": "https://openlegislation.uk/finance-act-2013/schedule-47/paragraph-14",
  "json_url": "https://openlegislation.uk/finance-act-2013/schedule-47/paragraph-14.json",
  "legislation": "ukpga/2013/29",
  "legislation_title": "Finance Act 2013",
  "legislation_url": "https://openlegislation.uk/finance-act-2013",
  "path": "schedule/47/paragraph/14",
  "kind": "paragraph",
  "number": "14",
  "heading": null,
  "text": "(1) In Chapter 3 (miscellaneous provisions), section 112 (deduction from income for foreign tax (instead of credit against UK tax)) is amended as follows.\n(2) After subsection (3) insert—\n“(3A) Subsection (3B) applies if—\n(a) the requirements of section 49A(1)(a) to (c) are met,\n(b) amounts have been paid in respect of non-UK tax on loan relationship credits falling within section 49A(1)(c) which arise in an accounting period of the relevant UK company, and\n(c) apart from subsection (3B), Z would exceed\nR × Swhere—\nZ is—\nithe total amount of any reductions under subsection (1) for amounts paid in respect of that non-UK tax, less\niithe total amount of any increases under subsection (3) for payments made by reference to that non-UK tax, and\ncR and S have the same meaning as in section 49A(2).\nR and S have the same meaning as in section 49A(2).\n(3B) The total amount of the reductions under subsection (1) is to be reduced so that Z equals”\nR × S\n(3) In subsection (6), for “subsection (1)” substitute “ this section ”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2013/29/schedule/47/paragraph/14",
    "retrieved_at": "2026-10-29T09:08:06.076240+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."
}