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Corporate interest restriction update

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Forms are now available on which to notify HMRC of the appointment of a reporting company to file a corporate interest restriction (CIR) return on behalf of a group. HMRC has also updated its main CIR guidance.

The online form is available on the government gateway and HMRC has provided a downloadable worksheet. There is also a facility for revoking an appointment. UK groups deducting more than £2m a year in interest and other financing costs may need to nominate a reporting company by 31 March 2018 and make a corporate interest restriction return by 30 June 2018 (see

HMRC has updated the draft CIR guidance to reflect amendments being introduced in Finance Bill 2018, Sch 8 (see When finalised, the guidance will be included in HMRC’s Corporate Finance Manual. An initial set of draft guidance was published in March 2017. This was revised in August 2017 to take account of the final legislation in F(No. 2)A 2017 Sch 5.

Issue: 1390
Categories: News , Corporate taxes