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31.—(1) If an ultimate UK parent does not provide the information specified by regulation 30 within the requisite time period, HMRC must determine to the best of their information and belief the amounts of the total of the unrestricted reductions, the total disallowed amount and the tested income amount for the worldwide group for the relevant period of account.
(2) A notice of determination under this regulation must be sent to the company required to make the default reduction and to the ultimate UK parent stating the date on which the determination is issued.
(3) No determination under this regulation may be made more than 3 years after the day on which the power becomes exercisable.
(4) If after a determination has been made under this regulation, the ultimate UK parent provides the information specified by regulation 30, that information shall supersede the determination.
(5) But paragraph (4) does not apply if the information is supplied more than 3 years after the determination is made.
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