Finance (No. 2) Act 2023

13 (1) The filing member of a registered group must submit a self-assessment return to HMRC for each accounting period, unless sub-paragraph (3) applies.

(2) A “self-assessment return” is a return containing—

(a) an assessment by the filing member as to—

(i) which members of the group are chargeable to multinational top-up tax, and

(ii) the amount of multinational top-up tax is chargeable to each such member, and

(b) such other information as may be specified in a notice published by HMRC.

(3) This sub-paragraph applies if—

(a) the conditions in sub-paragraph (5) are met in relation to the group for the accounting period,

(b) the filing member has submitted a below-threshold notification to HMRC, and

(c) the filing member has not withdrawn the below-threshold notification.

(4) A “below-threshold notification” is a notification that the filing member—

(a) considers that the conditions in sub-paragraph (5) are met for an accounting period, and

(b) does not expect that the conditions will cease to be met for that accounting period or any subsequent accounting period.

(5) The conditions are that—

(a) the group was not a qualifying multinational group in the accounting period, and

(b) the group is unlikely to be a qualifying multinational group in the next two accounting periods.

(6) A self-assessment return or below-threshold notification must be submitted in the way specified in a notice published by HMRC.

(7) HMRC may specify in a notice that other information is to be provided together with a below-threshold notification.

(8) A self-assessment return or below-threshold notification must be submitted by the end of the period of 15 months beginning with the day after the end of the accounting period in respect of which the return or notification is being submitted.

(9) But the longer period in sub-paragraph (10) applies if a self-assessment return is being submitted in respect of the first accounting period in relation to which the group is a registered group.

(10) Where this sub-paragraph applies, the self-assessment return must be submitted by the end of the period of 18 months beginning with the day after the end of the accounting period.