SCHEDULES
F1SCHEDULE 7AInterest restriction returns
PART 9Supplementary
Conclusiveness of amounts stated in interest restriction return
76
1
This paragraph applies to an amount stated in an interest restriction return submitted under paragraph 7 or 8 (“the interest restriction return”), other than an amount that is also stated in a company tax return.
2
If the amount can no longer be altered, it is taken to be conclusively determined for the purposes of the Corporation Tax Acts.
3
An amount is regarded as one that can no longer be altered if—
a
the interest restriction return has not been superseded by a subsequent interest restriction return;
b
the applicable time limit has passed;
c
any enquiry into the interest restriction return has been completed;
d
if the closure notice in relation to an enquiry into the interest restriction return contained a statement under paragraph 49(2)(b), the period within which an appeal against the statement may be brought has ended; and
e
if such an appeal is brought, the appeal has been finally determined.
4
For the purposes of sub-paragraph (3) the “applicable time limit” means the time limit in paragraph 8(3) or, in a case where paragraph 57(2) or (4) applies and imposes a later time limit for submission of the interest restriction return, that later time limit.
5
Nothing in this paragraph affects—
a
the power under paragraph 42 (extended time limits for opening enquiries: discovery of errors), or
b
any power to make a determination under paragraph 56 or 58 (determinations by officers of Revenue and Customs).
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)