Related Commentary  

372(1)  This Part contains provision that–

(a)disallows certain amounts that a company would (apart from this Part) be entitled to bring into account for the purposes of corporation tax in respect of interest and other financing costs, and

(b)allows certain amounts disallowed under this Part in previous accounting periods to be brought into account in later accounting periods.

372(2)  In this Chapter–

(a)section 373 defines some key concepts including, in particular, “the total disallowed amount” in relation to a period of account of a worldwide group, and

(b)section 374 provides for Schedule 7A to have effect.

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