PART 3Joint venture companies: allowance

Amendment of the notional allowance statement11

1

B or the nominated company may by notice amend the notional allowance statement to amend the allocation of notional allowance.

2

The notice must—

a

be made in writing to HMRC;

b

be received by HMRC before whichever is the latest of—

i

12 months after date in regulation 10(2)(b)(i), and

ii

the latest of the dates in regulation 10(2)(b)(ii) to (iv);

c

be signed by the appropriate person in relation to B or the nominated company, as the case may be; and

d

specify the amendment to the specification required by regulation 10(2)(f) and specify any increase or decrease in the notional allowance allocated.