Debt cap: statement of allocation: required information for exemptions
This guidance applies to worldwide group periods of account ending before or straddling 1 April 2017.
The information to be provided in the statement of allocated exemption
There are statutory requirements for the information to be provided in a statement of allocated exemptions (TIOPA10/S292). The following should be included on the statement of exemptions:
- the tested expense amount;
- the available amount;
- the total disallowed amount;
- a list of all the companies to which PT7/CH4 applies;
- in relation to each listed company, the financing income amounts for the relevant period of account; and
- the relevant details in relation to each amount.
The relevant details in relation to each financing income amount are
- which of the conditions in TIOPA10/S314 is met in relation to that amount and
- the relevant accounting period of the company in which (apart from the exemption) the amount would be brought into account.
There is further information on TIOPA10/S314 at CFM91200 onwards.
The sum of the financing income included on the statement must not exceed the lower of:
- the total disallowed amount; and
- the tested income amount.