SCHEDULES

SCHEDULE 15Tax treatment of financing costs and income

Part 3Disallowance of deductions

Statement of allocated disallowances: submission

19

(1)

The reporting body must submit a statement (a “statement of allocated disallowances”) in relation to the relevant period of account to HMRC.

(2)

A statement submitted under this paragraph must be received by HMRC within 12 months of the end of the relevant period of account.

(3)

A statement submitted under this paragraph must comply with the requirements of paragraph 21.