Paragraph 17 F1
United Kingdom
This paragraph applies where the appointment of a reporting company has effect in relation to a period of account of a worldwide group.
The reporting company may—
elect that Chapter 7 of Part 10 (group-interest and group-EBITDA) is to apply subject to the non-consolidated investment provisions, or
revoke an election previously made.
An election under this paragraph must specify, for the purposes of the non-consolidated investment provisions, one or more non-consolidated associates of the worldwide group.
An election or revocation under this paragraph has effect in relation to the period of account.
An election under this paragraph is referred to in this Part of this Act as an “interest allowance (non-consolidated investment) election”.
In this paragraph “the non-consolidated investment provisions” means sections 427 and 428.
Annotations
Textual amendments
- F1
Sch. 7A inserted (with effect in accordance with Sch. 5 para. 25(1)(2) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 2 (with Sch. 5 para. 28)