Paragraph 21 F1

United Kingdom

The statement of calculations required by paragraph 20(3)(d) to be included in a full interest restriction return must include the following information—

(a)

for each company that was a UK group company at any time during the return period—

(i)

the company's net tax-interest expense, or net tax-interest income, for the return period (see section 389);

(ii)

the company's tax-EBITDA for the return period (see section 406);

(b)

the aggregate net tax-interest expense, and aggregate net tax-interest income, of the group for the return period (see section 390);

(c)

the interest capacity of the group for the return period (see section 392);

(d)

the aggregate of interest allowances of the group for periods before the return period so far as they are available in the return period (see section 393);

(e)

the interest allowance of the group for the return period (see section 396);

(f)

the aggregate tax-EBITDA of the group for the return period (see section 405);

(g)

where the interest allowance is calculated using the fixed ratio method and that allowance is given by section 397(1)(b), the adjusted net group-interest expense of the group for the return period (see section 413);

(h)

where the interest allowance is calculated using the group ratio method—

(i)

the group ratio percentage (see section 399 or 401);

(ii)

the qualifying net group-interest expense of the group for the return period (see section 414);

(iii)

the group-EBITDA of the group for the return period (see section 416).

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)