Part 23

Company distributions
Chapter 6

Information and returns: further provisions

General duties to provide information

Other distributions etc: returns and information
1101
1
If a company makes a distribution to which section 1100 does not apply , it must make a return to an officer of Revenue and Customs.
2
The return must—
a
contain particulars of the transaction giving rise to the distribution,
b
state the name and address of the recipient, or each recipient, of the distribution, and
c
state the amount or value of the distribution received by the recipient, or each recipient.
3
The return must be made—
a
within 14 days from the end of the accounting period in which the distribution is made, or
b
if the date on which the distribution is made does not fall in an accounting period, within 14 days from that date.
4
If it is not apparent whether or not a transaction gives rise to a distribution to which section 1100 does not apply , the company—
a
must make a return to an officer of Revenue and Customs containing particulars of the transaction, and
b
must do so within the time limit that would be given by subsection (3) if the transaction did give rise to such a distribution.
5
If subsection (4) applies, an officer of Revenue and Customs may serve a notice on the company requiring it to provide any further information in relation to the transaction that the officer reasonably requires.
6
If it appears to an officer of Revenue and Customs that particulars of any transaction should have been, but have not been, included in a return under subsection (1) or (4), the officer may serve a notice on the company requiring it to provide any information relating to the transaction that the officer reasonably requires.
7
The company must provide the information required under subsection (5) or (6) within the time specified in the notice.
Words in s. 1101(1) substituted (with effect in accordance with Sch. 1 para. 73 of the amending Act) by Finance Act 2016 (c. 24), Sch. 1 para. 40(2)
Words in s. 1101(4) substituted (with effect in accordance with Sch. 1 para. 73 of the amending Act) by Finance Act 2016 (c. 24), Sch. 1 para. 40(3)
Word in s. 1101 heading substituted (with effect in accordance with Sch. 1 para. 73 of the amending Act) by Finance Act 2016 (c. 24), Sch. 1 para. 40(4)
Pt. 23 applied (with modifications) by 2003 c. 1, s. 554AC(3) (as inserted (with effect in accordance with Sch. 1 para. 14 of the amending Act) by Finance Act 2018 (c. 3), Sch. 1 para. 2)