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Corporate Interest Restriction Return - Application Programming Interface (API) Launch

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HMRC is changing the way that it will be receiving Corporate interest Restriction Returns and is introducing 4 new Application Programming Interfaces (API)
Corporate Interest Restriction (CIR) applies to corporate entities and aims to restrict a group’s deductions for interest expense and other financing costs for Corporation Tax purposes

Corporate Interest Restriction Returns: introducing our new Application Programming Interface (API)

Posted by: , Posted on: - Categories: News and Updates
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Corporate Interest Restriction (CIR) legislation became effective from 1 April 2017 and applies to corporate entities. HMRC has developed an Application Programming Interface (API) for submitting Interest Restriction Returns (IRR) and for reporting company appointments and revocations. This will be available for use from June 2021.

The application of the Corporate interest restriction rules to groups or single companies operating only in the UK - Tax agent blog

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Did you know, from 1 April 2017, if your client’s company or group has more than £2 million of net interest and similar financing costs per year, the Corporate interest restriction rules may restrict interest deductions for UK Corporation Tax purposes.