Part 13

Other special types of company etc
Chapter 7

Co-operative housing associations

Adjustments of liability
648
1
If an adjustment of a housing association's liability to corporation tax is necessary as a result of a claim under section 642, the adjustment may be made by an assessment, by repayment of tax or otherwise.
2
A housing association's liability to corporation tax may be adjusted by means of assessments or otherwise if—
a
a claim by the housing association under section 642 or 643 is included in a company tax return,
b
an enquiry is made into the tax return, and
c
an amendment is made to the tax return as a result of the enquiry.
3
A housing association's liability to corporation tax may be adjusted by means of assessments or otherwise if—
a
an enquiry is made under paragraph 5 of Schedule 1A to TMA 1970 into a claim made by the association under section 642 or 643, or into an amendment of such a claim, and
b
an amendment is made to the claim as a result of the enquiry.
4
Adjustments under subsection (2) or (3) may be made for all relevant accounting periods.