Paragraph 11

United Kingdom

(1)

Nothing in subsection (2) or (3) of section 29 of the Management Act (as substituted by section 191 of the M1Finance Act 1994) shall prevent an assessment being made under subsection (1) of that section in any case where—

(a)

the loss of tax there mentioned is attributable to any failure to give effect to any of paragraphs 1, 2, 4, 6 and 8 to 10 above; and

(b)

at the time when the assessment is made, the condition mentioned in sub-paragraph (3) below is fulfilled.

(2)

Nothing in subsection (3) or (4) of section 30B of the Management Act (amendment of F1partnership return where loss of tax discovered) shall prevent an amendment being made under subsection (1) of that section in any case where—

(a)

the omission, deficiency or excess there mentioned is attributable to any failure to give effect to any of paragraphs 1, 2, 4, 6 and 8 to 10 above; and

(b)

at the time when the amendment is made, the condition mentioned in sub-paragraph (3) below is fulfilled.

(3)

The condition referred to in sub-paragraphs (1) and (2) above is that either—

(a)

F2a return under section 8 or 8A of the Management Act (personal or trustee return) or, as the case may require, a F3partnership return has been made for the year 1997-98 and that F4return is still capable of being amended; or

F5(b)

no such return has been so made.

Annotations

Textual amendments

F1: Words in Sch. 22 para. 11(2) substituted (11.5.2001) by 2001 c. 9, s. 88, Sch. 29 para. 37(1)(2)
F2: Words in Sch. 22 para. 11(3)(a) substituted (11.5.2001) by 2001 c. 9, s. 88, Sch. 29 para. 37(1)(3)(a)(i)
F3: Words in Sch. 22 para. 11(3)(a) substituted (11.5.2001) by 2001 c. 9, s. 88, Sch. 29 para. 37(1)(3)(a)(ii)
F4: Words in Sch. 22 para. 11(3)(a) substituted (11.5.2001) by 2001 c. 9, s. 88, Sch. 29 para. 37(1)(3)(a)(iii)
F5: Sch. 22 para. 11(3)(b) substituted (11.5.2001) by 2001 c. 9, s. 88, Sch. 29 para. 37(1)(3)(b)

Marginal citations

M1: 1994 c. 9.

Notes on Schedule 22

Textual amendments

F1: Words in Sch. 22 heading substituted (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 1 para. 484(12) (with Sch. 2)