The deadline to register in scope groups with a 31 December 2024 year end for UK Pillar 2 reporting is rapidly approaching. For more details of in scope groups please refer to our Pillar 2 overview factsheet.
HMRC have noted in their Pillar 2 updates that in scope groups with a UK subsidiary or permanent establishment will have UK Pillar 2 compliance obligations even if they are reporting in full in another jurisdiction and have calculated that they won’t have any top-up taxes to pay. In short, if you are an in scope group and have a UK presence you will need to register and report some information in the UK.
The group member nominated to be the UK filing member of an in scope group will need to register with HMRC within six months of the year end, so groups with a 31 December 2024 year end (the first year end of UK implementation) will need to register by 30 June 2025. Only one group member should be nominated for each group, so if your group has multiple UK subsidiaries or sub-groups, perhaps represented by multiple agents, a group level determination of the UK filing member will need to be made.
Tax agents such as HaysMac are prohibited from registering on a group’s behalf, so the UK filing member will need to register using their HMRC online account (or first set one up if they do not have one) and provide the following details:
- The name of the ultimate parent entity of the group
- The name of the UK filing member if different to the ultimate parent entity
- Confirm if this is a UK only group or a multinational group
- Contact details of the person or tax team responsible for filing returns
- Accounting period start and end dates
When you register you will get a Pillar 2 reference number. Please make a note of this, and the date you register, as HMRC will not be sending a confirmation email.
For more information on the Pillar 2 registration requirements, or if you would like to discuss if your group is within scope, please contact Mark Baycroft, or your usual HaysMac contact.
