Who is required to submit a group allowance allocation statement under section 269DG?

The nominated company for a banking group must submit a group allowance allocation statement to HMRC for each accounting period in which it holds that role. The statement sets out how the group's surcharge allowance is divided among its member companies, ensuring proper allocation under United Kingdom corporation tax law.

What happens to the obligation to submit the statement if the nominated company changes?

If the nominated company ceases to hold that role before submitting the statement for a particular accounting period, it loses the right to submit it. The company that is currently the nominated company for the group takes on the obligation instead, ensuring there is always a responsible party for submission.

What is the deadline for submitting the group allowance allocation statement to HMRC?

HMRC must receive the group allowance allocation statement within 12 months of the end of the nominated company's accounting period to which the statement relates. If this deadline is missed, an HMRC officer may permit a later submission at their discretion. The statement must meet requirements set out in section 269DI.

Does a backdated change of nominated company invalidate a previously submitted statement?

No. If a new group allowance nomination takes effect from a date earlier than the date it is actually made, any group allowance allocation statement validly submitted before the new nomination was made remains valid. This protects companies from having earlier filings undermined by retrospective changes to the nominated company.

Corporation Tax Act 2010 section 269DG

Group allowance allocation statement: submission

Section 269DG sets out the rules for submitting a group allowance allocation statement to HMRC, including who must submit it, the deadline for submission, and what happens when the nominated company for a group changes.

The nominated company for a banking group must submit a group allowance allocation statement to HMRC for each of its accounting periods in that role.
If the nominated company changes before the statement is submitted, the outgoing company may no longer submit it and the new nominated company must do so instead.
The statement must be received by HMRC within 12 months of the end of the nominated company's accounting period, unless an HMRC officer agrees to a later submission.
A backdated change of nominated company does not invalidate any statement already submitted before the date the new nomination is made.

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