Paragraph 88

United Kingdom

(1)

This paragraph applies to an amount stated in a company tax return for an accounting period which is required to be included in the return and which affects or may affect—

(a)

the tax payable by the company making the return for another accounting period, or

(b)

the tax liability of another company for any accounting period.

(2)

If such an amount can no longer be altered it is taken to be conclusively determined for the purposes of the Corporation Tax Acts in relation to that other period or other company.

Sub-paragraphs (3) to (5) explain what is meant by can no longer be altered.

C1(3)

An amount is regarded as one that can no longer be altered if—

(a)

the period specified in paragraph 15(4) (general period for amendment by company) has ended,

(b)

any enquiry into the return has been completed F1... F2(or is completed so far as relating to the matters to which the amount relates by the issue of a partial closure notice) ,

(c)

if F3an officer of Revenue and Customs F4amends the return under paragraph F534, the period within which an appeal may be brought against that amendment has ended, and

(d)

if an appeal is brought, the appeal has been finally determined.

(4)

If the return is amended by the company under a provision that allows an amendment after the end of the period specified in paragraph 15(4), an amount affected by the amendment ceases to be regarded as one that can no longer be altered until after whichever is the last of the following—

(a)

the end of the period within which notice of enquiry into the return may be given in consequence of the amendment;

(b)

if such a notice is given, F6the completion of the enquiry F7(or the completion of the enquiry so far as relating to the matters to which the amount relates by the issue of a partial closure notice) ;

(c)

if an officer of Revenue and Customs amends the return under paragraph F834, the end of the period within which an appeal against that amendment may be brought;

(d)

if an appeal is brought, the date on which the appeal is finally determined.

(5)

If the return is amended by an officer of Revenue and Customs under paragraph 83(3) (consequential amendment of return where amount available by way of capital allowances is reduced), an amount affected by the amendment ceases to be regarded as one that can no longer be altered until after—

(a)

the end of the period within which an appeal against that amendment may be brought, or

(b)

if an appeal is brought, the date on which the appeal is finally determined.

(6)

For the purposes of this paragraph an amount carried forward from a period for which a return was made under section 11 of the M1Taxes Management Act 1970 is not regarded as one required to be included in a company tax return for a later period.

(7)

Nothing in this paragraph affects any power to make an assessment other than a self-assessment or the power to make a discovery determination.

F9(8)

Nothing in this paragraph affects a power of the company making the return to make a claim under paragraph 51 (claim for relief for overpaid tax).

F10(9)

Nothing in this paragraph affects the operation of any provision of Part 10 of TIOPA 2010 (corporate interest restriction).

Annotations

Textual amendments

F1: Words in Sch. 18 para. 88(3)(b) omitted (1.4.2010) by virtue of Finance Act 2008 (c. 9), s. 119(10)(a)(13); S.I. 2009/405, art. 2
F2: Words in Sch. 18 para. 88(3)(b) inserted (with effect in accordance with Sch. 15 para. 44 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 15 para. 34(2)
F3: 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)
F4: 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)
F5: Word in Sch. 18 para. 88(3)(c) substituted (1.4.2010) by Finance Act 2008 (c. 9), s. 119(10)(b)(13); S.I. 2009/405, art. 2
F6: Words in Sch. 18 para. 88(4)(b) substituted (1.4.2010) by Finance Act 2008 (c. 9), s. 119(10)(c)(13); S.I. 2009/405, art. 2
F7: Words in Sch. 18 para. 88(4)(b) inserted (with effect in accordance with Sch. 15 para. 44 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 15 para. 34(3)
F8: Word in Sch. 18 para. 88(4)(c) substituted (1.4.2010) by Finance Act 2008 (c. 9), s. 119(10)(d)(13); S.I. 2009/405, art. 2
F9: Sch. 18 para. 88(8) inserted (with effect in accordance with s. 100(2) of the amending Act) by Finance Act 2009 (c. 10), Sch. 52 para. 16
F10: Sch. 18 para. 88(9) 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. 4

Marginal citations

M1: 1970 c. 9.

Modifications

C1: Sch. 18 para. 88(3)-(5) applied by Taxation (International and Other Provisions) Act 2010 (c. 8), Sch. 7A para. 4(6) (as 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))

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))