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SCHEDULES

SCHEDULE 19U.K.The bank levy

Part 6U.K.Collection and management

Meaning of “the responsible member”U.K.

[F155A(1)This paragraph applies for the purposes of paragraph 54(3)(c)(ii) and (d)(ii).U.K.

(2)HMRC may from time to time publish requirements as to the information to be provided by, or on behalf of, the relevant group’s responsible member before the end of the nomination period.

(3)In a case within paragraph 54(3)(c)(ii), HMRC may determine that E is not to be the relevant group’s responsible member for the chargeable period.

(4)A determination under sub-paragraph (3) must be made within the period of 30 days from the end of the nomination period.

(5)HMRC may make a determination under this paragraph only if—

(a)information required under sub-paragraph (2) has not been provided to HMRC, or

(b)HMRC has reason to believe that E—

(i)has ceased to be a chargeable member of the relevant group,

(ii)no longer has an accounting period for corporation tax purposes which is the same as the chargeable period, or

(iii)will turn out not to have sufficient resources to pay the bank levy.]

Textual Amendments

F1Sch. 19 para. 55A inserted (15.3.2018) by Finance Act 2018 (c. 3), Sch. 9 para. 21