Debt cap: appointment of the authorised company: appointment of an authorised company for allocating exemptions
The procedure for appointing an authorised company for statements of allocating exemptions for financing income
This is the same basic procedure as appointing an authorised company for statements allocating disallowances. An application to appoint an authorised company has to be in writing and must be made not later than 9 months after the end of the relevant period of account. The appointment application has to be signed by the appropriate person for each of the UK group companies that is subject to the exemption provisions of TIOPA10/PT7/CH4.
The application should be made to the tax office that deals with the corporation tax affairs of the applying company. The application needs to contain information required by The Corporation Tax (Financing Costs and Income) Regulations 2009 for both the applicant company and the UK group companies to which TIOPA10/PT7/CH3 applies. Further details of the information needed to support the application is in CFM91470.
Once a company is appointed as the authorised company the appointment continues until it is revoked.