Taxation (International and Other Provisions) Act 2010

[F1 43 (1) An enquiry into an interest restriction return extends to anything contained, or required to be contained, in the return (including any election included in the return). U.K.

(2) But the enquiry does not extend to an enquiry into an amount—

(a) which is contained, or required to be contained, in a company tax return of a UK group company, and

(b) which is taken into account in any calculation required for the purposes of the interest restriction return.

(3) Sub-paragraph (2) does not affect—

(a) any question as to whether or not, as a result of this Part of this Act, the amount falls to be left out of account, or to be brought into account, in any accounting period of the company, or

(b) the way in which, by reference to that amount and other matters, any provision of this Part of this Act has effect to determine whether or not the amount, or any other amount, is to be left out of, or brought into account, in any accounting period (whether of that company or another company).

(4) Nor does sub-paragraph (2) limit the operation of any provision of Part 4 of Schedule 18 to FA 1998 (determinations and assessments made by officers of Revenue and Customs).

(5) If—

(a) at any time an enquiry into an interest restriction return (“the previous return”) has been closed, and

(b) the previous return is subsequently superseded by an interest restriction return submitted under paragraph 8 (“the revised return”),

the enquiry into the revised return extends only to matters arising as a result of information that was not included in the previous return.

(6) For this purpose an enquiry is “closed” when a closure notice is given in relation to the enquiry.]

Textual Amendments

F1 Sch. 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)