# Finance Act 2019, Paragraph 6


(1) Section 413 (adjusted net group-interest expense) is amended as follows.
(2) In subsection (3)—
(a) in paragraph (a), for “an asset or liability” substitute “ a non-financial asset or non-financial liability ”, and
(b) in paragraph (b), after “an amount that” insert “ , in the case of a non-financial asset, ”.
(3) In subsection (4)—
(a) in paragraph (a), for “an asset or liability” substitute “ a non-financial asset or non-financial liability ”, and
(b) in paragraph (b), after “an amount that” insert “ , in the case of a non-financial asset, ”.
(4) For subsection (5) substitute—
“(5) For the purposes of subsections (3)(a) and (b) and (4)(a) and (b)—
(a) an asset is a “non-financial asset” if it is not a financial asset for accounting purposes or it is a share in a company,
(b) a liability is a “non-financial liability” if it is not a financial liability for accounting purposes or it is in respect of a share issued by a company, and
(c) references to amounts brought into account in determining the carrying value of a non-financial asset or non-financial liability do not include amounts so brought into account as a result of writing off any part of an amount which was itself so brought into account;
and in paragraphs (a) and (b) “share” has the meaning given by section 476(1) of CTA 2009.”

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Source: https://www.legislation.gov.uk/ukpga/2019/1/schedule/11/paragraph/6 (the official version)
Page: https://openlegislation.uk/finance-act-2019/schedule-11/paragraph-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.