Modification of transfer schemes
9.—(1) Where a transfer scheme is treated as modified under, or by an order made under paragraph 3 of Schedule 11 to the Water and Sewerage Services (Northern Ireland) Order 2006 the successor company—
(a)may amend its company tax return in accordance with paragraph 15(4) of Schedule 18 to the Finance Act 1998(1); or
(b)shall amend its company tax return not more than twelve months after the end of the accounting period in which the modification occurred where the date of the modification makes it impossible to comply with the time limits set out in paragraph 15(4) of Schedule 18 to that Act.
(2) Where a company does not make an amended return in accordance with sub-paragraph (b), an officer of Revenue and Customs may make an assessment or determination—
(a)in accordance with paragraph 46 of Schedule 18 to the Finance Act 1998; or
(b)not later than two years after the end of the accounting period in which the modification occurred,
whichever is the later.