Section 371SLA | Corporate interest restriction

(1)This section applies for the purpose of applying Part 10 (corporate interest restriction).

(2)Assume—

(a)that the CFC is a member of a worldwide group for a period of account of which it would be a member if section 371SL were ignored, and

(b)that the CFC is the only UK group company in the period (within the meaning of that Part).

(3)Assume also that Part 10 applies as if subsections (2) and (3) of section 392 (interest capacity of the group: the de minimis amount) were omitted.