SCHEDULES
F1SCHEDULE 7AInterest restriction returns
PART 1The reporting company
Appointment of reporting company by Revenue and Customs
4
1
This paragraph applies where—
a
no appointment of a reporting company under paragraph 1 has effect in relation to a period of account of a worldwide group (“the relevant period of account”), and
b
as a result of sub-paragraph (4)(a) of that paragraph, an appointment of a reporting company under that paragraph that has effect in relation to the relevant period of account is no longer possible.
2
An officer of Revenue and Customs may, by notice to an eligible company, appoint it to be the group's reporting company.
3
The notice must specify the relevant period of account (whether by specifying the dates on which it begins and ends or, if the officer does not have that information, by reference to a date or dates).
4
The appointment has effect in relation to the relevant period of account.
5
The appointment may be made—
a
at any time before the end of the period of F24 years beginning with the end of the relevant period of account, or
b
at any time after the end of that period if, at that time, an amount stated in the company tax return of a UK group company for a relevant accounting period can be altered.
6
Paragraph 88(3) to (5) of Schedule 18 to FA 1998 (meaning of “can no longer be altered”) applies for the purposes of this paragraph.
7
For the purposes of this paragraph a company is “eligible” if and only if the company —
a
was a UK group company at a time during the relevant period of account, and
b
was not dormant throughout that period.
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)