Corporation Tax: changes to the worldwide debt cap provisions
Amendments to the worldwide debt cap (WWDC) provisions to ensure changes to accounting standards do not create unintended additional Corporation Tax liabilities.
▤ Verbatim text from source document
The Tax Treatment of Financing Costs and Income (Change of Accounting Standards: Investment Entities) Regulations 2015 and explanatory memorandum came into force on 2 April 2015. This tax information and impact note amends the available amount of a worldwide group or an expense arising to a member of it.