{
  "url": "https://openlegislation.uk/finance-no-2-act-2017/schedule-5/paragraph-24",
  "json_url": "https://openlegislation.uk/finance-no-2-act-2017/schedule-5/paragraph-24.json",
  "legislation": "ukpga/2017/32",
  "legislation_title": "Finance (No. 2) Act 2017",
  "legislation_url": "https://openlegislation.uk/finance-no-2-act-2017",
  "path": "schedule/5/paragraph/24",
  "kind": "paragraph",
  "number": "24",
  "heading": null,
  "text": "In Schedule 11, at the end insert—\n“ PART 7\nCorporate interest restriction: index of defined expressions used in Part 10\nabbreviated interest restriction return (in Part 10)\nparagraph 20 of Schedule 7A\nabbreviated return election (in Part 10)\nparagraph 19 of Schedule 7A\naccounting period (in Part 10)\nChapter 2 of Part 2 of CTA 2009 (applied by section 1119 of CTA 2010)\nadjusted net group-interest expense of a worldwide group (in Part 10)\nsection 413\naggregate net tax-interest expense of a worldwide group (in Part 10)\nsection 390\naggregate net tax-interest income of a worldwide group (in Part 10)\nsection 390\naggregate tax-EBITDA of a worldwide group (in Part 10)\nsection 405\nallocated reactivation of company for period of account (in Part 10)\nparagraph 25 of Schedule 7A\nallowable loss (in Part 10)\nTCGA 1992 (applied by section 1119 of CTA 2010)\nassociated (in Chapter 8 of Part 10)\nsection 449(2)\namount available for reactivation of company in period of account (in Part 10)\nparagraph 26 of Schedule 7A\navailable, in relation to interest allowance (in Chapter 4 of Part 10)\nsection 393\nbalance sheet (in Chapter 8 of Part 10)\nsection 449(1)\nchargeable gain (in Part 10)\nTCGA 1992 (applied by section 1119 of CTA 2010)\nthe Commissioners (in Part 10)\nsection 494(1)\ncompany (in Part 10)\nsection 1121 of CTA 2010\ncompany tax return (in Schedule 7A)\nparagraph 73 of Schedule 7A\nconsenting company (in Part 10)\nparagraph 10 of Schedule 7A\nconsolidated partnership (in Part 10)\nsection 430\nconsolidated subsidiary of another entity (in Part 10)\nsection 475\nderivative contract (in Part 10)\nPart 7 of CTA 2009 (applied by section 1119 of CTA 2010)\ndisallowed, in relation to tax-interest expense amount (in Part 10)\nsection 378\ndrawn up on acceptable principles, in relation to financial statements (in Chapter 11 of Part 10)\nsection 481\nfair value accounting (in Part 10)\nsection 494(1)\nfair value (in Part 10)\nsection 494(1)\nfiling date, in relation to a period of account of a worldwide group (in Part 10)\nparagraph 7(5) of Schedule 7A\nfinance lease (in Part 10)\nsection 494(1)\nfinancial asset (in Chapter 8 of Part 10)\nsection 449(1)\nfinancial statements of a worldwide group (in Part 10)\nsection 479\nfixed ratio method (in Part 10)\nsection 397\nfor accounting purposes (in Part 10)\nsection 1127(4) of CTA 2010\nfull interest restriction return (in Part 10)\nparagraph 20 of Schedule 7A\ngenerally accepted accounting practice (in Part 10)\nsection 1127(1) and (3) of CTA 2010\ngroup-EBITDA (chargeable gains) election (in Part 10)\nparagraph 15 of Schedule 7A\ngroup ratio election (in Part 10)\nparagraph 13 of Schedule 7A\ngroup ratio (blended) election (in Part 10)\nparagraph 14 of Schedule 7A\ngroup ratio method (in Part 10)\nsection 398\ngroup ratio percentage (in Part 10)\nsection 399\nIAS financial statements (in Part 10)\nsection 488\nimpairment loss (in Part 10)\nsection 391\nincome (in Part 10)\nsection 1119 of CTA 2010\ninsurance company (in Part 10)\nsection 141 of FA 2012\ninterest allowance of a worldwide group (in Part 10)\nsection 396\ninterest allowance (alternative calculation) election (in Part 10)\nparagraph 16 of Schedule 7A\ninterest allowance (consolidated partnerships) election (in Part 10)\nparagraph 18 of Schedule 7A\ninterest allowance (non-consolidated investment) election (in Part 10)\nparagraph 17 of Schedule 7A\ninterest capacity of a worldwide group (in Part 10)\nsection 392\ninterest reactivation cap of a worldwide group (in Part 10)\nsection 373\ninterest restriction return (in Part 10)\nsection 494(1)\ninternational accounting standards (in Part 10)\nsection 1127(5) of CTA 2010\ninvestor in a worldwide group (in Part 10)\nsection 404\nloan relationship (in Part 10)\nPart 5 of CTA 2009 (applied by section 1119 of CTA 2010)\nloan relationships or other financing arrangements (in Chapter 8 of Part 10)\nsection 449(1)\nlocal authority (in Part 10)\nsection 1130 of CTA 2010\nlocal authority association (in Part 10)\nsection 1131 of CTA 2010\nmember of a worldwide group (in Part 10)\nsection 473(4)(a)\nmulti-company worldwide group (in Part 10)\nsection 473(4)(d)\nnet group-interest expense of a worldwide group (in Part 10)\nsection 410\nnet tax-interest expense of a company (in Part 10)\nsection 389\nnet tax-interest income of a company (in Part 10)\nsection 389\nnon-consenting company (in Part 10)\nparagraph 10 of Schedule 7A\nnon-consolidated associate of a worldwide group (in Part 10)\nsection 429\nnon-consolidated subsidiary of an entity (in Part 10)\nsection 475\nnotice (in Part 10)\nsection 1119 of CTA 2010\nparty to a loan relationship (in Part 10)\nsection 494(2)\nperiod of account of a worldwide group (in Part 10)\nsection 480\nprofit before tax, of a worldwide group (in Chapter 7 of Part 10)\nsection 416\npro-rata share of company (of total disallowed amount) (in Part 10)\nparagraph 23 of Schedule 7A\npro-rata share of accounting period (of total disallowed amount) (in Part 10)\nparagraph 24 of Schedule 7A\nprovision (in relation to a public infrastructure asset) (in Chapter 8 of Part 10)\nsection 436\npublic infrastructure asset (in Chapter 8 of Part 10)\nsection 436\nqualifying charitable donation (in Part 10)\nPart 6 of CTA 2010 (applied by section 1119 of CTA 2010)\nqualifying infrastructure company (in Chapter 8 of Part 10)\nsection 433\nqualifying infrastructure activity (in Chapter 8 of Part 10)\nsection 436\nqualifying net group-interest expense of a worldwide group (in Part 10)\nsection 414\nrecognised, in financial statements (in Part 10)\nsection 489\nrecognised stock exchange (in Part 10)\nsection 1137 of CTA 2010\nregistered pension scheme (in Part 10)\nsection 150(2) of FA 2004 (applied by section 1119 of CTA 2010)\nrelated party (in Part 10)\nsections 462 to 472\nrelated party investor (in Part 10)\nsection 404\nrelevant asset (in Chapter 7 of Part 10)\nsection 417\nrelevant accounting period (in Part 10)\nsection 490\nrelevant expense amount (in Chapter 7 of Part 10)\nsection 411\nrelevant income amount (in Chapter 7 of Part 10)\nsection 411\nrelevant public body (in Part 10)\nsection 491\nreporting company (in Part 10)\nsection 494(1)\nthe return period (in Part 10)\nsection 494(1)\nservice concession agreement (in Part 10)\nsection 494(1)\nshare, of an investor in a worldwide group (in Part 10)\nsection 404\nsingle-company worldwide group (in Part 10)\nsection 473(4)(c)\nsubject to interest reactivations (in Part 10)\nsection 373\nsubject to interest restrictions (in Part 10)\nsection 373\ntax (in Part 10)\nsection 1119 of CTA 2010\ntax-EBITDA of a company (in Part 10)\nsection 406\ntax-interest expense amount of a company (in Part 10)\nsection 382\ntax-interest income amount of a company (in Part 10)\nsection 385\ntrade (in Part 10)\nsection 1119 of CTA 2010\ntotal disallowed amount of a worldwide group (in Part 10)\nsection 373\nUK generally accepted accounting practice (in Part 10)\nsection 1127(2) of CTA 2010\nUK group company (in Part 10)\nsection 492\nUK property business (in Part 10)\nChapter 2 of Part 4 of CTA 2009 (applied by section 1119 of CTA 2010)\nthe UK sector of the continental shelf (in Chapter 8 of Part 10)\nsection 449(1)\nthe ultimate parent, of a worldwide group (in Part 10)\nsection 473(4)(b)\nunexpired (in Chapter 4 of Part 10)\nsection 395\nUnited Kingdom (in Part 10)\nsection 1170 of CTA 2010\nused (in Chapter 4 of Part 10)\nsection 394\nwithin the charge to corporation tax (in Part 10)\nsection 1167 of CTA 2010\nwholly-owned subsidiary (in Part 10)\nsection 494(1)\na worldwide group (in Part 10)\nsection 473\n”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2017/32/schedule/5/paragraph/24",
    "retrieved_at": "2026-10-29T09:05:16.335265+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."
}