Corporate Interest Restriction - What Action Should You Be Taking?

• The course is highly practical and will include multiple examples to assist with understanding the rules
• It is presented by an independent training professional and can be a completely independent look at the issues raised
• The course will encourage participation and allow for all questions and clarifications to be considered
• The course will always be completely current and relevant

• Identify if a company can be exempted from the rules under the Public Infrastructure Exemption
• Understand the situations in which a company or group may face a disallowance of ‘excess’ interest expense
• Calculate the variables needed to identify is a disallowance is necessary
• Identify when it is beneficial to file an abbreviated CIR (corporate interest restriction) 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
• Create a spreadsheet CIR model to automate as many of the calculations as possible

The trainer 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.

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

He 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 delivering UK tax and VAT update programmes to accounting and law firms.

The trainer is passionate about training and his enthusiasm ensures that the participants enjoy the learning experience whilst gaining knowledge through their engagement in the sessions and through encouraging them to ask questions and discuss practical issues they may have.

He also 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.

This course is designed to help attendees understand when companies might face a disallowance of interest under the corporate interest restriction guidance rules.

It will guide 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 where there is a possibility that the company or group will face a disallowance in future years.