Paragraph 11

(1)

Part 7 of TIOPA 2010 (tax treatment of financing costs and income) is repealed; and accordingly the following provisions of that Act are also repealed—

(a)

section 1(1)(d) (overview);

(b)

in Schedule 9, Part 7 (transitional provision);

(c)

in Schedule 11, Part 5 (index of defined expressions).

(2)

In consequence of sub-paragraph (1), the following enactments (which amend provisions repealed by that sub-paragraph) are repealed—

(a)

in F(No.3)A 2010, section 11 and Schedule 5;

(b)

in FA 2011, in Schedule 13, paragraphs 29 and 30;

(c)

in FA 2012—

(i)

section 31 and Schedule 5;

(ii)

in Schedule 16, paragraphs 242 and 243(a);

(iii)

in Schedule 20, paragraphs 43 to 45;

(d)

in FA 2013, section 44;

(e)

in FA 2014, section 39.

(3)

The following regulations were made under powers contained in Part 7 of TIOPA 2010 and are therefore revoked by virtue of sub-paragraph (1)—

(a)

the Corporation Tax (Financing Costs and Income) Regulations 2009 (S.I. 2009/3173);

(b)

the Corporation Tax (Tax Treatment of Financing Costs and Income) (Acceptable Financial Statements) Regulations 2009 (S.I. 2009/3217);

(c)

the Corporation Tax (Exclusion from Short-Term Loan Relationships) Regulations 2009 (S.I. 2009/3313);

(d)

the Tax Treatment of Financing Costs and Income (Available Amount) Regulations 2010 (S.I. 2010/2929);

(e)

the Tax Treatment of Financing Costs and Income (Correction of Mismatches) Regulations 2010 (S.I. 2010/3025);

(f)

the Taxation (International and Other Provisions) Act 2010 (Part 7) (Amendment) Regulations 2012 (S.I. 2012/3045);

(g)

the Tax Treatment of Financing Costs and Income (Correction of Mismatches: Partnerships and Pensions) Regulations 2012 (S.I. 2012/3111);

(h)

the Tax Treatment of Financing Costs and Income (Excluded Schemes) Regulations 2013 (S.I. 2013/2892);

(i)

the Tax Treatment of Financing Costs and Income (Change of Accounting Standards: Investment Entities) Regulations 2015 (S.I. 2015/662).