Taxes Consolidation Act 1997 section 835AAM

Interest group reporting

Section 835AAM sets out the reporting obligations of interest groups under the interest limitation rules, including the appointment of a reporting company and the details to be included in the group return.

• The interest group must appoint one of its members as the reporting company; that member must be a chargeable person within the meaning of Part 41A (i.e. subject to self-assessment).
• The reporting company must file a return on behalf of the interest group, on or before the specified return date for the accounting period, in the form prescribed by Revenue (the CT1).
• The return may include details such as EBITDA, the allowable amount, exceeding borrowing costs, the disallowable amount, total spare capacity, and the allocation of each amongst the group members, together with carried-forward amounts and their utilisation.
• Where the group ratio election, equity ratio election, or payments-for-relief provisions apply, the return must include the relevant additional details, including the names, tax reference numbers, and amounts involved.