CFM91640 | Debt cap: statement of allocation: required information for exemptions

This guidance applies to worldwide group periods of account ending before or straddling 1 April 2017.

The information to be provided in the statement of allocated exemption

There are statutory requirements for the information to be provided in a statement of allocated exemptions (TIOPA10/S292). The following should be included on the statement of exemptions:

• the tested expense amount;

• the available amount;

• the total disallowed amount;

• a list of all the companies to which PT7/CH4 applies;

• in relation to each listed company, the financing income amounts for the relevant period of account; and

• the relevant details in relation to each amount.

The relevant details in relation to each financing income amount are

• which of the conditions in TIOPA10/S314 is met in relation to that amount and

• the relevant accounting period of the company in which (apart from the exemption) the amount would be brought into account.

There is further information on TIOPA10/S314 at CFM91200 onwards.

The sum of the financing income included on the statement must not exceed the lower of:

• the total disallowed amount; and

• the tested income amount.