Debt cap: appointment of the authorised company: revocation
This guidance applies to worldwide group periods of account ending before or straddling 1 April 2017.
When is an appointment revoked
There are three circumstances under which the appointment of an authorised company as the reporting body for the group is revoked. These are given in regulations 7 to 9, and 22 to 24, of SI 2009/3173.
The first circumstance is simply where the authorised company itself revokes the appointment. The revocation has to be made in writing to the tax office that deals with the authorised company’s corporation tax affairs. The revocation applies from the relevant period of account in which the notice is given, or a later period of account if specified in the revocation notice.
The second circumstance is if the authorised company ceases to be a relevant group company for allocated disallowances or a UK group company for allocated exemptions. In this case the appointment ceases to have effect for the relevant period of account in which the authorised company ceased to be a relevant group company or UK group company, as appropriate, and for subsequent periods of account.
The third circumstance is where a company begins or ceases to be a relevant group company or a UK group company. Further details of this circumstance are at CFM91490. Unless HMRC is specifically notified, the appointment ceases to have effect in relation to the relevant period of account in which the change took place, and for subsequent periods of account.