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Advanced Thin Capitalisation Agreements

Are pre-price agreements with tax authorities possible in your jurisdiction? If so, what form do they generally take (for example. B, unilaterally, bilaterally or multilaterally) and what companies and transactions can they cover? Unlike many tax authorities around the world, HM Revenue-Customs (HMRC) does not operate a separate thin-cap regime. Rather, it is based on the general transfer pricing provisions of Part 4 of the 2010 taxes (international and other provisions). While many thin-cap interest deductibility schemes (i.e. the granting of interest deduction up to a pre-defined limit) practice safe formulas and ports, the British regime is based exclusively on the principle of arm length, which is in fact an audit of whether a company would have borrowed the same amount from an independent party without the support of the parental or cross-use guarantee. Our experience to date shows that hmrc is very „open to business” for low-cap advance applications and has been particularly useful for companies and shareholders fighting FIN 48 claims and tax regimes, for those who seek more clarity on invoice tax payments and for those who want to avoid significant resources being involved in complex and tedious hmRC applications related to their intragroup financing agreements. HMRC strongly supports the negotiation of bilateral or multilateral agreements in advance of prices, unless the following provisions provide for and apply to pre-price agreements: compliance with the requirements of the UK thin-band regime is a complex challenge and the introduction of the ATCA programme has been an important step in creating a framework to eliminate much of this uncertainty. Since 2007, APP legislation has allowed small-cap projects (ATCs) to be closed (see 774-895). It should be noted, however, that although the ATCs and AMAs are based on the same legal provisions, there are separate procedures to ensure agreement. Hmrc guidelines for entry into an ATCA are included in the SP1/2012 Practice Statement (which has largely replaced SP4/2007 to update legislative references). A template agreement can be reached on HMRC`s website at www.hmrc.gov.uk/cnr/draft-atca-v1.pdf. Pre-price agreements generally have a maximum duration of five years. In April 2007, hmrc introduced the Advance Thin Capitalisation Agreement (ATCA) in its 04/07 Practice Statement (SOP 04/07) recognizing the difficulties and uncertainties faced by British taxpayers in complying with the UK thin-band regime.

The aim was to help UK taxpayers put in place a guarantee for the application of transfer pricing rules for intra-group financing agreements. For most companies, this included the agreement on the amounts borrowed and the interest rates in force, but also the agreement of a reasonable margin or range for British financial and treasury companies. Although the legal basis for an ATCA is exactly the same as for a non-financial Advance Price Agreement (APA), the HMRC administration of the ATCA program is separate from that of an APA (with the exception of the financial transfer pricing specialists at HMRC, who are the program`s general managers and a first point of contact).

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