Changes to Corporate Interest Restrictions
17 December 2018
There are a number of reasons why a group may wish to file a Corporate Interest Restriction (CIR) return.
However, while the deadline for a CIR return is 12 months from the period end, it can only be filed once a reporting company has been appointed, which currently has a much shorter six-month deadline. This could be particularly troublesome for businesses where a change in the group structure during the year causes a group to cease during a year: the deadline for appointment could fall during the accounting year or otherwise before tax provisioning work commences, increasing the risk that something is missed.