The Corporate Interest Restriction - Where are we now?

Sessions are delivered by a master of the Corporate Interest Restriction rules. He is a UK Chartered Accountant and Chartered Tax Advisor, winning the John Wood Medal in the November 1995 CIOT sitting for the best paper on business taxation.

Previously Director of Finance and Taxation Programmes at BPP Professional Education, he has delivered IFRS, US GAAP, UK Tax and VAT to a multitude of organisations worldwide since 1992.

This trainer has particular experience in delivering bespoke IFRS and US GAAP training programmes to multinationals in the financial services, transport and energy sectors, as well as UK tax and VAT update programmes to accounting and law firms.

Our specialist provides consultancy services to companies and accounting firms, including the provision of tax and VAT advice, reviewing accounting policy manuals and advising on accounting treatments of various transactions.

Passionate about the delivery of CIR accounting-related topics, his enthusiasm ensures that participants enjoy the learning experience and gain knowledge through session engagement.

• This CIR course covers how to determine whether a company qualifies for exemption under the Public Infrastructure Exemption rules.
• Participants will understand the situations in which a company or group may face a disallowance of ‘excess’ interest expense.
• Calculate the variables needed to identify if a disallowance is necessary.
• Identify when it is beneficial to file an abbreviated CIR return and what to do if one should have been filed for earlier periods.
• Understand the elections that can be made to vary the amounts used in the calculations and the pros and cons of using them.
• Understand how disallowed interest can be relieved (‘reactivated’) in future periods.
• Understand how unused amounts can be carried forward and used in future periods.
• Finally, interest restriction training includes guidance on building a spreadsheet-based CIR model to automate key calculations wherever possible.

• Sessions are highly practical and include multiple examples to assist with understanding the corporate interest restriction rules.
• Training delivery is by an independent, industry professional, adept at reviewing all issues raised.
• Courses encourage participation and allow for all questions and clarifications to be considered.
• Training content remains relevant and updated for the current CIR rules.

This CIR course is a must-know for:

• Tax professionals preparing corporation tax interest allowable on computations for companies and/or groups of companies that incur, or who shortly expect to incur, net interest expense over £2 million per annum, where a CIR return might be mandatory or beneficial to submit.

The course is a ‘nice to know’ for:

• CFOs, FDs and FCs seeking to understand why interest incurred is disallowed for tax purposes.

Sessions are designed to help attendees understand when companies might face a disallowance of interest under the corporate interest restriction rules.

Training guides delegates through the process of identifying which companies are relevant to the calculations and whether any group companies can be disregarded under the Public Infrastructure Exemption.

CIR management delegates will learn the mechanics of the calculations and how these can be modelled in a spreadsheet to save time each year. They will be taken through the main features of each variable that forms part of the calculations, and how the variables can be affected by elections that can be made.

The importance of filing abbreviated returns will be highlighted during CIR accounting sessions, where there is a possibility that the company or group will face a disallowance in future years.