Part 23Company distributions
Chapter 6Information and returns: further provisions
General duties to provide information
1101Non-qualifying distributions etc: returns and information
1
If a company makes a distribution which is not a qualifying distribution, it must make a return to an officer of Revenue and Customs.
2
The return must—
a
contain particulars of the transaction giving rise to the distribution,
b
state the name and address of the recipient, or each recipient, of the distribution, and
c
state the amount or value of the distribution received by the recipient, or each recipient.
3
The return must be made—
a
within 14 days from the end of the accounting period in which the distribution is made, or
b
if the date on which the distribution is made does not fall in an accounting period, within 14 days from that date.
4
If it is not apparent whether or not a transaction gives rise to a distribution which is not a qualifying distribution, the company—
a
must make a return to an officer of Revenue and Customs containing particulars of the transaction, and
b
must do so within the time limit that would be given by subsection (3) if the transaction did give rise to such a distribution.
5
If subsection (4) applies, an officer of Revenue and Customs may serve a notice on the company requiring it to provide any further information in relation to the transaction that the officer reasonably requires.
6
If it appears to an officer of Revenue and Customs that particulars of any transaction should have been, but have not been, included in a return under subsection (1) or (4), the officer may serve a notice on the company requiring it to provide any information relating to the transaction that the officer reasonably requires.
7
The company must provide the information required under subsection (5) or (6) within the time specified in the notice.