Paragraph 1 F1F2
United Kingdom
An interest restriction return for a period of account of a worldwide group is of no effect unless it is submitted to an officer of Revenue and Customs by the reporting company of the group for that period.
A member of a worldwide group may appoint a company to be the group’s reporting company for a period of account.
The appointment is of no effect for the period of account unless—
the company to be appointed as the group’s reporting company for the period is an eligible company for that period, and
the appointment is authorised by more than half of the eligible companies for that period.
For this purpose a company is “eligible” if and only if the company—
was a UK group company at a time during the period of account, and
was not dormant throughout that period.
Annotations
Textual amendments
- F1
Sch. 7A inserted (with effect in accordance with Sch. 5 para. 25(1)(2) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 2 (with Sch. 5 para. 28)
- F2
Sch. 7A para. 1 substituted (with effect in relation to periods of account ending on or after 31.3.2026) by Finance Act 2026 (c. 11), s. 61(2)(21)