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Corporate interest restriction

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HMRC has updated its guidance Restriction on corporation tax relief for interest deductions to explain what a company or group can do if it has missed the deadline for appointing a reporting company within 12 months of the end of the period of account and to provide an email address for making corporate interest return elections during the coronavirus pandemic. Companies can ask HMRC to appoint a reporting company where there were valid reasons for missing the time limit, e.g. due to coronavirus, an unforeseeable change in circumstances or other reason outside the company’s control.

Issue: 1495
Categories: News