Corporate interest restriction docs to be submitted electronically

The Corporate Interest Restriction (Electronic Communications) Regulations, SI 2022/770, require certain notices and returns relating to the corporate interest restriction (CIR) to be sent to HMRC via an approved means of electronic communication.

The regulations require the following CIR documents to be submitted to HMRC electronically:

• notices appointing, or revoking the appointment of, a reporting company;
• interest restriction returns; and
• revised interest restriction returns.

Information that is not supplied in the correct format will be considered not to have been provided.

HMRC had previously accepted CIR documents through a number of different channels which led to duplication of effort for businesses unsure of the best submission route, inefficiencies for HMRC in processing the documents, and an increased risk of not detecting errors in the documents.

The regulations apply for submissions on or after 1 September 2022.

HMRC previously highlighted its intention to mandate all reporting company appointments or revocations and interest restriction returns by electronic means in Agent Update issue 94.