HMRC guidance on corporate interest restriction – 31 March 2018 deadline
HMRC have published final guidance in respect of the corporate interest restriction (CIR) which came into operation from 1 April 2017. This was of immediate relevance to any groups for whom 31 March 2018 was the deadline to appoint a CIR ‘reporting company’ and to make certain CIR elections.
The guidance includes confirmation of how returns, elections and other documents are to be filed.
31 March 2018 was the deadline for some groups to appoint a ‘reporting company’ for the purposes of the new corporate interest restriction (CIR) regime. It was also the deadline for making certain CIR elections, including the notional Disregard Regulations election, two elections altering the group’s period of account and the Public Infrastructure election. For more information, see the guidance.