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The Corporate Interest Restriction (Electronic Communications) Regulations 2022

S.I. 2022/770 · Made 6 July 2022 · Extends to United Kingdom

Up to date with all changes known to legislation.gov.uk, revised to 1 April 2026.

Corporation Tax

Made 6th July 2022

Laid before the House of Commons 7th July 2022

Coming into force 1st September 2022

The Commissioners for Her Majesty’s Revenue and Customs make the following Regulations in exercise of the powers conferred by sections 135(1), (2)(a) and (e), (3)(a), (4)(a) and 136 of the Finance Act 2002f1 and now exercisable by themf2, and paragraph 3 of Schedule 7A to the Taxation (International and Other Provisions) Act 2010f3.

Annotations to the whole text

Footnotes

f1

2002 c. 23; section 135 was amended by paragraphs 94 and 95 of Schedule 4 to the Commissioners for Revenue and Customs Act 2005 (c. 11), section 93 of the Finance Act 2007 (c. 11), and S.I. 2011/1043..

f2

The functions of the Commissioners of Inland Revenue under section 136 of the Finance Act 2002 were transferred to the Commissioners for Her Majesty’s Revenue and Customs by section 5(1) of the Commissioners for Revenue and Customs Act 2005. Section 50(1) of that Act provides that, in so far as is appropriate in consequence of section 5, a reference, howsoever expressed, to the Commissioners of Inland Revenue is to be taken as a reference to the Commissioners for Her Majesty’s Revenue and Customs.

f3

2010 c. 8; Schedule 7A was inserted by paragraph 2 of Schedule 5 to the Finance (No.2) Act 2017 (c. 32).

Contents

  1. 1Citation and commencement
  2. 2Requirement to submit information using electronic communications
  3. 3Proof of delivery of information
  4. Signature
  5. Explanatory note

1Citation and commencementI1

These Regulations may be cited as the Corporate Interest Restriction (Electronic Communications) Regulations 2022 and come into force on 1st September 2022.

2Requirement to submit information using electronic communicationsI1

(1)

The following information must be submitted to an officer of Revenue and Customs by an approved means of electronic communication—

F1(a)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c)

an interest restriction return under paragraph 7 of F2Schedule 7A to the Taxation (International and Other Provisions) Act 2010f1;

(d)

a revised interest restriction return under paragraph 8 of that Schedule.

(2)

In these Regulations “approved means of electronic communication” means any form or manner of electronic communication that is approved for the purposes of these Regulations by means of a specific or general direction given by the Commissioners.

F3(3)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)

An interest restriction return, or a revised interest return, that does not meet the requirements of paragraph (1) is taken not to have been delivered.

3Proof of delivery of informationI1

(1)

A F1... return that is submitted using an approved means of electronic communication is presumed to have been delivered if an acknowledgement is issued by an official computer system.

(2)

A F2... return that is submitted using an approved means of electronic communication is presumed not to have been delivered if no acknowledgment is issued by an official computer system.

(3)

In this regulation “official computer system” means a computer system maintained by or on behalf of the Commissioners—

(a)

to send or receive information; or

(b)

to process or store information.

Signature

Justin Holliday

Myrtle Lloyd

Two of the Commissioners for Her Majesty’s Revenue and Customs

Explanatory note

(This note is not part of the Regulations)

These Regulations require certain information relating to corporate interest restriction returns under Schedule 7A to the Taxation (International and Other Provisions) Act 2010 to be supplied to HMRC via electronic communications. The approved means of electronic communication will be specified in Commissioners’ directions under regulation 2(2). Information that is not supplied in the correct format will be taken not to have been provided.

A Tax Information and Impact Note covering this instrument will be published on the website at https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins.