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HMRC internal manual

Corporate Finance Manual

Debt cap: appointment of the authorised company: required information

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

What information should accompany the application?

Regulation 4 (for statements of allocated disallowances) and regulation 19 (for allocated exemptions) of SI 2009/3173 provide that the application must specify:

  • The name and tax references of:


  • the applicant company; and
  • for statements of allocated disallowances the name and tax references of all other relevant group companies during the relevant period of account; or
  • for statements of allocated exemptions the name and tax references of all other UK group companies during the relevant period of account.
  • applications by a company to be an authorised company for both types of statement will need names and tax references of all relevant group companies and UK group companies.


  • The first period of account of the worldwide group for which the appointment is to apply; and
  • The name of the immediate parent of the applicant company and for each of the other companies included on the statement. This information is not necessary if a company’s immediate parent is the ultimate parent. This information will allow HMRC to check that the companies supporting the application are relevant group companies or UK group companies as appropriate.

In addition the application must contain a statement by the applicant company and by each of the other relevant group companies and/or UK group companies that:

  • The appointment is made under TIOPA10/S276 for allocated disallowances and S288 for allocated exemptions or both;
  • That the applicant company will act on behalf of all the relevant companies for all relevant periods of account for which the appointment has effect;
  • Revisions to financing expense amounts or financing income amounts will only be made through a revised statement submitted by the applicant company;
  • Companies will not attempt to amend their financing expense and financing income amounts by submitting revised tax returns; and
  • That the company agrees to be bound by any statement of allocated disallowances and/ or allocated exemptions or any revised statement delivered by the applicant company.

The application must be accompanied by a specimen copy of a statement of allocated disallowances and/or allocated exemptions that the applicant company proposes to use.