Regulation 6 Amendment of the allowance allocation statement

(1)

The company that is, for the time being, the allocating member may by notice amend the allowance allocation statement to amend the allocation of allowance.

(2)

The notice must—

(a)

be made in writing to HMRC;

(b)

be received by HMRC before whichever is the latest of the following dates—

(i)

the date 24 months after the end of period A,

(ii)

if notice of enquiry (within the meaning of Part 4 of Schedule 18 to the Finance Act 1998^f1) is given into a relevant tax return of the allocating member or an RP developer, 30 days after the enquiry is completed,

(iii)

if, after such enquiry is completed, an officer of Revenue and Customs amends the return under paragraph 34(2) of Schedule 18 to the Finance Act 1998, 30 days after the notice of amendment is issued, and

(iv)

if an appeal is brought against such an amendment, 30 days after the date on which the appeal is finally determined;

(c)

be signed by the appropriate person in relation to the allocating member; and

(d)

amend the specifications required by regulation 5(2)(g) to (i) and specify any increase or decrease in the allowance allocated.

(3)

In paragraph (2)(b)(iii), “relevant tax return” means a company tax return of an allocating member in respect of period A or RP developer in respect of period B to which allowance has been allocated for that period.

Annotations

Footnotes

f1: 1998 c. 36.