{
  "url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-19A/paragraph-4",
  "json_url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-19A/paragraph-4.json",
  "legislation": "ukpga/1988/1",
  "legislation_title": "Income and Corporation Taxes Act 1988",
  "legislation_url": "https://openlegislation.uk/income-and-corporation-taxes-act-1988",
  "path": "schedule/19A/paragraph/4",
  "kind": "paragraph",
  "number": "4",
  "heading": null,
  "text": "(1) If the inspector is satisfied that a return under paragraph 2(1) above affords correct and complete information concerning the syndicate profit or loss for a year of assessment, he shall determine that profit or loss accordingly.\n(2) If for a year of assessment the inspector is dissatisfied with a return under paragraph 2(1) above, or there is no such return, the inspector shall determine the syndicate profit or loss for that year to the best of his judgment.\n(3) If the inspector discovers that a determination under sub-paragraph (1) or (2) above—\n(a) understates the syndicate profits for the year of assessment; or\n(b) overstates the syndicate losses for that year,\nhe may, by a determination under this sub-paragraph, vary the first-mentioned determination accordingly.\n(4) Notice of a determination under this paragraph shall be served on the [managing ] agent and shall state the time within which any appeal against the determination may be made under paragraph 5 below.\n(5) After notice of a determination under this paragraph has been served on the [managing ] agent, the determination shall not be altered except in accordance with the express provisions of the Taxes Acts.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S.I. 1990 No.2524 reg. 3(4)coming into force 2January 1991for 1988-89and subsequent years."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1988/1/schedule/19A/paragraph/4",
    "retrieved_at": "2026-10-29T09:49:54.309394+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."
}