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HMRC internal manual

Corporate Finance Manual

Debt cap: appointment of the authorised company: when the appointment will not be accepted

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

Refusing an application to appoint an authorised company

The application to be an authorised company can be refused by HMRC before the three month date only in the following circumstances. These are given by regulation 5(4) or regulation 20(4) of SI 2009/3173.

* If the specimen statement of allocated disallowances or exemptions is not adequate for the purposes of Part 7, chapters 3 or 4  (allocated disallowances and allocated exemptions), or
* If a company to which chapter 3 or 4 applies has been omitted from the list of relevant group companies or UK group companies appointing the authorised company.