SCHEDULES

SCHEDULE 2Returns for disposals of UK land etc

PART 2Notification of chargeable amounts, amendments of returns, enquiries etc

22Revenue determinations

1

The Revenue determination provision applicable to ordinary tax returns applies in relation to returns made by a person under this Schedule as it applies in relation to ordinary tax returns, but subject to the following modifications.

2

The modifications are that—

a

any reference to being given a notice is to be read as a reference to being required to deliver a return under this Schedule,

b

any reference to the filing date is to be read as a reference to the filing date within the meaning of this Part of this Schedule (but see paragraph (e)),

c

any reference to the amounts to be determined is to be read as a reference to the amount of capital gains tax which is notionally chargeable on a person as at the filing date for a return under this Schedule,

d

any reference in any enactment to the purposes for which a determination is to have effect is to be ignored, and

e

the determination may not be made after the end of the period of 3 years beginning with the last day for delivery of an ordinary tax return.

3

If—

a

a determination is made as a result of this paragraph, but

b

it is then superseded by a return made under this Schedule,

any amount which, as a result of the supersession, is payable or repayable under paragraph 6 or 8 is to be payable or repayable on the filing date for the return.

4

For the purposes of this paragraph “the Revenue determination provision” means section 28C of TMA 1970.