Find out about:
- Transaction category groupings
- Reporting foreign exchange gains and losses
- Reporting related or directly connected transactions
The information provided in Part A for an IRP transaction or RAS includes indicating the relevant transaction category for the IRP transaction or RAS. These instructions for completing Part A of the local file are based on the following transaction category groupings:
- IRPDs in tangible property of a revenue nature
- IRPD service arrangements
- IRPD use rights
- IRPD share-based employment remuneration
- Other revenue IRPDs
- IRPD derivative transactions
- IRPD debt interests (including ordinary loans and borrowings)
- IRPD debt factoring or debt securitisation
- Other kinds of IRPDs of a financial nature
- IRPDs involving disposal or acquisition of tangible property of a non-revenue (capital) nature
- IRPDs involving disposal or acquisition of intangible property or rights of a non-revenue (capital) nature
- IRPD foreign currency deferred payment arrangements
The values shown in Part A for an IRP transaction or RAS are based on accounting records or income tax records as summarised in Appendix 5, and as indicated in the specific instructions for the particular groups of transaction categories.
For avoidance of doubt, we confirm IRPD transactions involving recharge or reimbursement of costs are also categorised by the nature of what is obtained or provided under the IRPD in exchange for the recharged or reimbursed amounts. For example:
An IRPD recharge or reimbursement arrangement involving 'recharge' of your costs for insurance you provide to your IRP is treated as an IRPD Insurance transaction. Consistent with the rules for completing Question 11e in Section A of the IDS, you would show the premiums or other revenue for the Insurance Services transaction including any reimbursed costs.
- An IRPD recharge or reimbursement arrangement involving 'recharge' of your IRPs costs for services provided by the IRP to you in connection with the IRP organising or managing your third party insurance contracts is treated as an IRPD service arrangements transaction. Consistent with the rules for completing Question 8 in Section A of the IDS, you would show the fees or other expenditure for the Insurance Services transaction including any recharged costs.
- Appendix 1 for a full list of transaction categories.