Taxation (International and Other Provisions) Act 2010

[F1 Amendments to take account of operation of this Part of this Act (including elections) U.K.

Textual Amendments

F1 Sch. 7A inserted (with effect in accordance with Sch. 5 para. 25(1)(2) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 2 (with Sch. 5 para. 28)

69 (1) A company may amend its company tax return for an accounting period so as to make (or revoke) an election under section 375 at any time before— U.K.

(a) the filing date in relation to the period of account of the worldwide group to which the interest restriction return in question relates (see paragraph 7(5)), or

(b) if later, the end of the period of 3 months beginning with the day on which the interest restriction return in question is received by an officer of Revenue and Customs.

(2) A company that amends its company tax return for an accounting period as mentioned in sub-paragraph (1) must, before the time limit specified in that sub-paragraph, also amend the return to take account of the election (or revocation).

(3) If—

(a) a company is required by section 376 to leave an amount out of account in an accounting period, and

(b) the company has already delivered a company tax return for the period,

the company must amend its company tax return to take account of the requirement.

(4) The amendment must be made before the end of the period of 3 months beginning with the day after the relevant date (within the meaning of section 376).

(5) A company may amend its company tax return for an accounting period so as to make (or revoke) an election under section 377 or 380 at any time before—

(a) the end of the period of 36 months beginning with the day after the end of the accounting period, or

(b) if later, the end of the period of 3 months beginning with the day on which a relevant interest restriction return was received by an officer of Revenue and Customs.

(6) A company that amends its company tax return for an accounting period as mentioned in sub-paragraph (5) must, before the time limit specified in that sub-paragraph, also amend the return to take account of the election (or revocation).

(7) In sub-paragraph (5) “a relevant interest restriction return” means an interest restriction return for a period of account in relation to which the accounting period is a relevant accounting period.

(8) The time limit for amending a company tax return given by paragraph 15(4) of Schedule 18 to FA 1998 is subject to the time limits given by this paragraph.]