Taxation (International and Other Provisions) Act 2010 section 21

Statement of calculations

Section 21 specifies the detailed financial information that must be included in the statement of calculations forming part of a full interest restriction return.

• For each UK group company, the return must state its individual net tax-interest expense or income and its tax-EBITDA for the period.
• The return must include group-level totals: aggregate net tax-interest expense and income, aggregate tax-EBITDA, interest capacity, any carried-forward interest allowances from earlier periods, and the interest allowance for the current period.
• Where the fixed ratio method is used and the allowance is based on the alternative calculation, the adjusted net group-interest expense must also be reported.
• Where the group ratio method is used, the return must additionally show the group ratio percentage, the qualifying net group-interest expense, and the group-EBITDA for the period.