SCHEDULES
SCHEDULE 24 Self-assessment: accounting periods etc.
Part I Amendments of the Taxes Management Act 1970
Power to enquire into return for wrong period, etc.
F14
1
In section 11AB(1) (power to enquire into return of profits), after paragraph (c) (which is inserted by paragraph 2 of Schedule 19 to this Act), there shall be inserted
or
d
if it appears to the officer that a return delivered in response to a section 11 notice—
i
is or may be a return for the wrong period, or
ii
has become a return for the wrong period as a result of a direction under section 12(5A) of the principal Act,
the period for which the return should have been made;
2
After subsection (3) of that section there shall be inserted the following subsections—
4
For the purposes of subsection (1)(d) above a return is a return for the wrong period in each of the cases set out below.
5
The first case is where—
a
the return is made for a period which ends in or at the end of the period specified in the section 11 notice and which in the return is treated as an accounting period; but
b
the period for which the return is made is not an accounting period of the company.
6
The second case is where—
a
the return is made for a part of the period specified in the section 11 notice which in the return is treated as not falling within an accounting period of the company; but
b
there is an accounting period ending in or at the end of the period specified in the section 11 notice.