The Corporate Interest Restriction rules replace the existing Worldwide Debt Cap rules. The Worldwide Debt Cap rules therefore cease to have effect for periods of account starting on or after 1 April 2017.

If a worldwide group draws up financial statements for a period that straddles 1 April 2017 then the Worldwide Debt Cap rules will cease to apply on the basis that the group has two notional periods of accounts as follows -

a period of account beginning when the actual period of account starts and ending with the 31 March 2017;

a period beginning with 1 April 2017 and ending when the actual period of account ends.

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.