# Taxation (International and Other Provisions) Act 2010, Section 390: The worldwide group's aggregate net tax-interest expense and income


(1) The “aggregate net tax-interest expense” of a worldwide group for a period of account of the group is (subject to subsection (2))—
(a) the total of the net tax-interest expense for the period of each relevant company that has such an amount, less
(b) the total of the net tax-interest income for the period of each relevant company that has such an amount.
(2) Where the amount determined under subsection (1) is negative, the “aggregate net tax-interest expense” of the group for the period is nil.
(3) The “aggregate net tax-interest income” of a worldwide group for a period of account of the group is (subject to subsection (4))—
(a) the total of the net tax-interest income for the period of each relevant company that has such an amount, less
(b) the total of the net tax-interest expense for the period of each relevant company that has such an amount.
(4) Where the amount determined under subsection (3) is negative, the “aggregate net tax-interest income” of the group for the period is nil.
(5) In this section “relevant company” means a company that was a member of the group at any time during the period of account of the group.
(6) This section applies for the purposes of this Part.

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Source: https://www.legislation.gov.uk/ukpga/2010/8/section/390 (the official version)
Page: https://openlegislation.uk/taxation-international-and-other-provisions-act-2010/section-390
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.