Schedules
Schedule 14Administration of multinational top-up tax
Part 1Overview
1
1
The Commissioners for His Majesty’s Revenue and Customs are responsible for the collection and management of multinational top-up tax.
2
a
contains provision to enable HMRC to determine when a person is chargeable to multinational top-up tax for an accounting period;
b
contains requirements to provide information to HMRC for the purposes of multinational top-up and taxes under the law of other territories that are equivalent to multinational top-up tax;
c
allows for the assessment of amounts of multinational top-up tax;
d
sets out associated administrative provisions;
e
makes consequential and other amendments to other enactments.
3
This Schedule makes provision about a “filing member” of a multinational group (see Part 2) and contains provision requiring such a member to—
a
register with HMRC (see Part 3);
b
submit an information return to HMRC (see Part 4);
c
submit a self-assessment return to HMRC (see Part 5);
d
keep and preserve records (see Part 9).
4
Part 10 of this Schedule makes provision for when and how payment of multinational top-up tax payable is to be made.
5
This Schedule makes provision for—
a
penalties (see Part 11);
b
appeals and claims for repayment of overpaid tax (see Part 12).