[F111AB Power to enquire into return of profits.U.K.
(1)An officer of the Board may enquire into—
(a)the return on the basis of which a company’s self-assessment was made under section 11AA of this Act, or
(b)any amendment of that return on the basis of which that assessment was amended under subsection (2)(b) of that section, [F2or
(c)any claim or election included in the return (by amendment or otherwise)] [F3or
(d)if it appears to the officer that a return delivered in response to a section 11 notice—
(i)is or may be a return for the wrong period, or
(ii)has become a return for the wrong period as a result of a direction under section 12(5A) of the principal Act,
the period for which the return should have been made;]
if, before the end of the period mentioned in subsection (2) below, he gives notice in writing to the company of his intention to do so.
(2)The period referred to in subsection (1) above is—
(a)in the case of a return delivered or amendment made on or before the filing date, the period of twelve months beginning with that date;
(b)in the case of a return delivered or amendment made after that date, the period ending with the quarter day next following the first anniversary of the day on which the return or amendment was delivered or made;
and the quarter days for the purposes of this subsection are 31st January, 30th April, 31st July and 31st October.
(3)A return or amendment which has been enquired into under subsection (1) above shall not be the subject of a further notice under that subsection.
[F4(4)For the purposes of subsection (1)(d) above a return is a return for the wrong period in each of the cases set out below.
(5)The first case is where—
(a)the return is made for a period which ends in or at the end of the period specified in the section 11 notice and which in the return is treated as an accounting period; but
(b)the period for which the return is made is not an accounting period of the company.
(6)The second case is where—
(a)the return is made for a part of the period specified in the section 11 notice which in the return is treated as not falling within an accounting period of the company; but
(b)there is an accounting period ending in or at the end of the period specified in the section 11 notice.]]
Textual Amendments
F1S. 11AB inserted (with effect in accordance with s. 199(2)(3) of the amending Act) by Finance Act 1994 (c. 9), s. 183; S.I. 1998/3173, art. 2
F2S. 11AB(1)(c) and preceding word inserted (with effect in accordance with Sch. 19 para. 1 of the amending Act) by Finance Act 1996 (c. 8), Sch. 19 para. 2
F3S. 11AB(1)(d) and preceding word inserted (with effect in accordance with Sch. 24 para. 8(1) of the amending Act) by Finance Act 1996 (c. 8), Sch. 24 para. 4(1)
F4S. 11AB(4)-(6) inserted (with effect in accordance with Sch. 24 para. 8(1) of the amending Act) by Finance Act 1996 (c. 8), Sch. 24 para. 4(2)