Paragraph 70 F1
United Kingdom
If—
a company has delivered a company tax return for an accounting period, but
as a result of the submission of an interest restriction return, information contained in the company tax return is incorrect (for example, there is a change in the amount of profits on which corporation tax is chargeable),
the company F2must amend its company tax return for the accounting period so as to correct the information.
The amendment must be made before whichever is the later of—
the end of the period of 3 months beginning with the day on which the interest restriction return was submitted, or
the time limit given by paragraph 15(4) of Schedule 18 to FA 1998.
If—
a notice of determination under paragraph 56 or 58 is given to a company in relation to an accounting period, and
the company has already delivered a company tax return for the period,
the company is treated as having amended its company tax return to take account of the determination.
Annotations
Textual amendments
- F1
Sch. 7A 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)
- F2
Words in Sch. 7A para. 70(1) substituted (with effect in accordance with Sch. 8 para. 25 of the amending Act) by Finance Act 2018 (c. 3), Sch. 8 para. 15(2)
- F3
Sch. 7A para. 70(1A) inserted (with effect in accordance with Sch. 8 para. 25 of the amending Act) by Finance Act 2018 (c. 3), Sch. 8 para. 15(3)
Notes on Other cases where company must amend its return etc
Textual amendments
- F2
Sch. 7A para. 70 cross-heading substituted (with effect in accordance with Sch. 8 para. 25 of the amending Act) by Finance Act 2018 (c. 3), Sch. 8 para. 15(4)