The UK measures relating to country-by-country (CbC) reporting include a notification requirement for “constituent entities” to inform HM Revenue & Customs (HMRC) about: (1) when the corporate group’s CbC reporting will be filed; (2) which entity will file the CbC report; and (3) which UK tax resident entities the CbC report will cover.
The deadline for notification is the later of the end of the period to which the report relates, or 1 September 2017. For example, if the end of the reportable period is 31 December 2016, the deadline to notify would be 1 September 2017. Subsequently, the deadline would be 31 December 2017 for the period ended 31 December 2017 and annually thereafter by 31 December. Read interim guidance from HMRC with regard to the notification requirement, including information about where to send notifications. There is no specific format for the notification; however, HMRC would prefer the notification to be in spreadsheet format. Further guidance from HMRC is anticipated.
Read a June 2017 report prepared by the KPMG member firm in the UK
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