Section 464ZB Section 464ZA: supplementaryF1

All such assessments and adjustments of assessments are to be made as are necessary to give effect to section 464ZA(1) and (3).

If a person who has made a tax return becomes aware that, after making it, anything in it has become incorrect because of the operation of section 464ZA(1) or (3), the person must give notice to an officer of Revenue and Customs specifying how the return needs to be amended.

The notice must be given within 3 months beginning with the day on which the person became aware that anything in the return had become incorrect because of the operation of section 464ZA(1) or (3).

In section 464ZA, “chargeable payment” means a loan or advance made by a close company which gives rise to a charge to tax under section 455.