Errors made in applying the corporate interest restriction
[ad_1] HMRC has identified a number of common errors made by companies and agents in respect of the corporate interest restriction. The corporate interest restriction (CIR) is an annual cap on the amount of tax relief a company or group may claim for finance costs. Where CIR applies for a group, a reporting company should […]
HMRC targets offshore corporate property structures
[ad_1] HMRC will soon have information from the register of overseas entities at Companies House. It plans to use this information to investigate taxpayer’s arrangements. The register of overseas entities was launched in the summer of 2022. Held by Companies House, it requires overseas entities that own land or property in the UK to declare […]
HMRC releases latest corporate criminal offence data
[ad_1] Data provides a timely reminder that organisations of all sizes should have procedures in place to identify and mitigate tax evasion facilitation risks, says ICAEW. The corporate criminal offences (CCO) for failure to prevent the facilitation of tax evasion were introduced by Pt 3, Criminal Finances Act 2017. Offences are committed where a relevant […]