SCHEDULES

[F1SCHEDULE 7AU.K.Interest restriction returns

Textual Amendments

F1Sch. 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)

PART 1U.K.The reporting company

Obligation of reporting company to submit interest restriction returnU.K.

7(1)This paragraph applies where the appointment of a reporting company has effect in relation to a period of account of a worldwide group.U.K.

(2)If the reporting company was appointed under paragraph 1 or 4, it must submit a return for the period of account to an officer of Revenue and Customs.

(3)If the reporting company was appointed under paragraph 5, it must submit a return for the period of account to an officer of Revenue and Customs unless a return for the period has already been submitted under sub-paragraph (2) or this sub-paragraph.

(4)A return submitted under this paragraph must be received by an officer of Revenue and Customs before the filing date in relation to the period of account.

(5)In this Part of this Act “the filing date”, in relation to a period of account of a worldwide group, means—

(a)the end of the period of 12 months beginning with the end of the period of account, or

[F2(b)if an appointment of a reporting company under paragraph 4 or 5 has effect in relation to the period of account, the end of the period of 3 months beginning with the day on which the appointment was made,]

[F3whichever is the later].

[F4(5A)For an extension of the filing date in the case of a takeover, see paragraph 7A.]

(6)A return submitted under this paragraph is of no effect unless it is received by an officer of Revenue and Customs before—

(a)the end of the period of 36 months beginning with the end of the period of account, or

(b)if later, the end of the period of 3 months beginning with the day on which the reporting company was appointed.

This is subject to paragraph 57.]

Textual Amendments

F4Sch. 7A para. 7(5A) inserted (with effect in accordance with Sch. 11 para. 25 of the amending Act) by Finance Act 2019 (c. 1), Sch. 11 para. 17(1)