COM23190 | Assessing: CTSA assessments: Corporate Interest Restriction elections

Elections relating to Corporate Interest Restriction

TIOPA2010/PART10

The Corporate Interest Restriction legislation at Part 10 TIOPA 2010 allows companies to make certain elections that affect how the legislation applies. These may be made either with the company CT600 return or separately.

The elections included in this legislation are:

S375 Non-consenting company election to restrict the pro-rata amount of tax-interest expense (must be made in CT600)

S377 Company specifying tax-interest expense amounts to be left out of account (must be made in CT600)

S380 Company specifying tax-interest expense amounts to be brought into account on reactivation (must be made in CT600)

S433 Public Infrastructure election

S435 Joint Group Infrastructure election

S444 Joint Venture Company election

S456 Fair Value Accounting election

S484 Ultimate Parent Company election

S486 Ultimate Parent Company election

FA(No.2)2017/SCH5A/PARA31 Disregard election

These elections need to be made within the relevant time limits. See the detailed guidance at CFM95000. Elections made outside of the time limits, accompanied by a request to accept the late election need to be forwarded to the appropriate Large Business office, or for WMBC cases, (This content has been withheld because of exemptions in the Freedom of Information Act 2000)