[F127(1)This paragraph applies in relation to a statement under—U.K.
(a)paragraph 21 (statement of calculations),
(b)paragraph 22 (statement of allocated interest restrictions), or
(c)paragraph 25 (statement of allocated interest reactivations).
(2)Where any information is included in the statement that is (or is derived from) estimated information, the statement—
(a)must state that fact, and
(b)must identify the information in question.
(3)Where—
(a)estimated information (or information deriving from estimated information) is included in an interest restriction return for a period of account in reliance on this paragraph, and
(b)a period of 36 months beginning with the end of that period of account has passed without the information becoming final,
the reporting company must give a notice to an officer of Revenue and Customs within the period of 30 days beginning with the end of that 36-month period.
(4)The notice—
(a)must identify the information in question that is not final, and
(b)must indicate when the reporting company expects the information to become final.
(5)If a company fails to comply with the duty under sub-paragraph (3), it is liable to a penalty of £500.
(6)An officer of Revenue and Customs may, in a particular case, treat a revised interest restriction submitted after the end of the applicable period under paragraph 8(3)(a) or (b) as having effect if—
(a)the revisions to the return are limited to those necessary to take account of information that has become final,
(b)the officer considers that it was not possible to make those revisions before the end of that period, and
(c)the reporting company has complied with the duty under sub-paragraph (3).]
Textual Amendments
F1Sch. 7A inserted (with effect in accordance with Sch. 5 para. 25(1)(2) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 2 (with Sch. 5 para. 28)