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HMRC internal manual

International Manual

International movements of capital: Reporting requirement

FA09/SCH 17/Para 4

FA09/SCH 17/Para 4 describes the reporting requirement. It applies to any UK corporate parent which is a ‘reporting body’ at the time that a reportable event or transaction occurs. Such reportable events or transactions must be reported to an officer of HMRC within six months.

The report must include such information relating to the event or transactions as is specified in regulations made by the Commissioners for HM Revenue and Customs (‘the Commissioners’). The purpose of the report is to enable the Commissioners to consider whether or not the event or transaction gives rise to an advantage in relation to UK taxation.