{
  "url": "https://openlegislation.uk/finance-act-2021/schedule-2/paragraph-11",
  "json_url": "https://openlegislation.uk/finance-act-2021/schedule-2/paragraph-11.json",
  "legislation": "ukpga/2021/26",
  "legislation_title": "Finance Act 2021",
  "legislation_url": "https://openlegislation.uk/finance-act-2021",
  "path": "schedule/2/paragraph/11",
  "kind": "paragraph",
  "number": "11",
  "heading": null,
  "text": "(1) The Commissioners must by regulations make provision—\n(a) requiring a statement (“a 2020 loss carry-back allocation statement”) to be submitted to HMRC on behalf of a 2020 group for the purpose of determining the non-de minimis 2020 claims that may be made by members of the group in compliance with paragraphs 9 and 10;\n(b) requiring a statement (“a 2021 loss carry-back allocation statement”) to be submitted to HMRC on behalf of a 2021 group for the purpose of determining the non-de minimis 2021 claims that may be made by members of the group in compliance with paragraphs 9 and 10.\n(2) The regulations may, in particular, include provision about—\n(a) the nomination by members of a 2020 group or 2021 group of a member of the group to submit a loss carry-back allocation statement on behalf of the group;\n(b) the contents of a loss carry-back allocation statement;\n(c) when a loss carry-back allocation statement is to be submitted;\n(d) when and how a loss carry-back allocation statement may or must be amended on behalf of a 2020 group or 2021 group;\n(e) when and how a loss carry-back allocation statement may be amended by an officer of HMRC;\n(f) the amendment of company tax returns in consequence of a loss carry-back allocation statement (including provision altering time limits that would otherwise apply);\n(g) the recovery of overpaid relief (including provision allowing an assessment to tax to be made).\n(3) The reference in sub-paragraph (2)(g) to overpaid relief is to an amount paid to a company by HMRC where—\n(a) the payment is a repayment of tax made in consequence of a 2020 claim or 2021 claim,\n(b) the loss carry-back allocation statement is amended in accordance with regulations under this paragraph, and\n(c) as a result of the amendment, the claim no longer meets the condition in paragraph 10(1)(b) or (as the case may be) paragraph 10(2)(b) (claim to conform with loss carry-back allocation statement).\n(4) In this paragraph—\n“HMRC” means Her Majesty's Revenue and Customs;\n“a loss carry-back allocation statement” means a 2020 loss carry-back allocation statement or a 2021 loss carry-back allocation statement.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2021/26/schedule/2/paragraph/11",
    "retrieved_at": "2026-10-29T08:58:11.025653+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}