There are some imminent deadlines for the corporate interest restriction rules that groups may need to consider before Easter, explain Greig Simms and Chris Lallemand (Mazars).
Following the BEPS project and domestic consultation the UK corporate interest restriction (CIR) rules were introduced for periods of account commencing on or after 1 April 2017 with straddling periods divided around this date. They use accounting concepts permit a range of elections and have a dazzling array of new definitions generating complex calculation and reporting requirements. Some of the deadlines for these rules are 31 March 2018; so if they are relevant consideration should be given to them before Easter.
Groups affected by the rules should already have considered whether adjustments to their financing arrangements are appropriate; and should either have taken or be planning to take action where necessary. At present the key concerns are...
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There are some imminent deadlines for the corporate interest restriction rules that groups may need to consider before Easter, explain Greig Simms and Chris Lallemand (Mazars).
Following the BEPS project and domestic consultation the UK corporate interest restriction (CIR) rules were introduced for periods of account commencing on or after 1 April 2017 with straddling periods divided around this date. They use accounting concepts permit a range of elections and have a dazzling array of new definitions generating complex calculation and reporting requirements. Some of the deadlines for these rules are 31 March 2018; so if they are relevant consideration should be given to them before Easter.
Groups affected by the rules should already have considered whether adjustments to their financing arrangements are appropriate; and should either have taken or be planning to take action where necessary. At present the key concerns are...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
