Paragraph 37

United Kingdom

(1)

If a notice requiring a company tax return is served on a company and—

(a)

a return is delivered for an accounting period ending in or at the end of the period specified in the notice, but

(b)

there is another period so ending (the “outstanding period") which appears to F1an officer of Revenue and Customs is or may be an accounting period,

an officer of Revenue and Customs may determine to the best of F2his information and belief the amount of corporation tax payable by the company for the outstanding period.

(2)

The power to make a determination under this paragraph becomes exercisable—

(a)

if the filing date for the outstanding period can be ascertained and no return is delivered on or before that date;

(b)

if no such date can be ascertained and no return for that period is delivered by the later of—

(i)

30 months from the end of the period specified in the notice, or

(ii)

three months from the day on which the notice was served.

(3)

Notice of a determination under this paragraph must be served on the company, stating the date on which the determination is issued.

(4)

No determination under this paragraph may be made more than F33 years after the day on which the power first became exercisable.

(5)

If the company shows—

(a)

that the outstanding period is not an accounting period, or

(b)

that it has delivered a return for that period,

any determination under this paragraph is of no effect.

Annotations

Textual amendments

F1: Words in Sch. 18 substituted (18.4.2005) by Commissioners for Revenue and Customs Act 2005 (c. 11), s. 53(1), Sch. 4 para. 68(a); S.I. 2005/1126, art. 2(2)(h)
F2: Words in Sch. 18 substituted (18.4.2005) by virtue of Commissioners for Revenue and Customs Act 2005 (c. 11), s. 53(1), Sch. 4 para. 68(c); S.I. 2005/1126, art. 2(2)(h)
F3: Words in Sch. 18 para. 37(4) substituted (1.4.2010) by Finance Act 2008 (c. 9), s. 118(2), Sch. 39 para. 39; S.I. 2009/403, art. 2(2) (with art. 10)

Notes on Schedule 18

Modifications

C1: Sch. 18 restricted (31.7.1998) by 1988 c. 1, s. 754B(10) (as inserted (31.7.1998 with effect as mentioned in Sch. 17 para. 37 of 1998 c. 36) by 1998 c. 36, s. 113, Sch. 17 para. 11)
C2: Sch. 18 modified (18.4.2005) by Commissioners for Revenue and Customs Act 2005 (c. 11), s. 53(1), Sch. 4 para. 68(c); S.I. 2005/1126, art. 2(2)(h)
C3: Sch. 18 applied (20.7.2005) by Finance (No. 2) Act 2005 (c. 22), s. 61
C4: Sch. 18 applied (with modifications) (6.4.2006) by The Registered Pension Schemes (Accounting and Assessment) Regulations 2005 (S.I. 2005/3454), regs. 1, 13
C5: Sch. 18 excluded (17.7.2013) by Finance Act 2013 (c. 29), s. 210(6)(b)
C6: Sch. 18: power to amend conferred (12.2.2019) by Finance Act 2019 (c. 1), s. 87(5)(a)(6)
C7: Sch. 18 applied (with modifications) (22.7.2020) by Finance Act 2020 (c. 14), Sch. 16 para. 11(4) (with Sch. 16 para. 11(5))
C8: Sch. 18 applied (with modifications) (11.7.2023) by Finance (No. 2) Act 2023 (c. 30), s. 303(7)(8) (with s. 303(6))

Notes on Part V

Modifications

C1: Sch. 18 applied (20.7.2005) by Finance (No. 2) Act 2005 (c. 22), s. 61