Schedules

Schedule 3Corporate interest restriction etc.

Part 1Amendments to TIOPA 2010

22Revised interest restriction return

1

Paragraph 29 of Schedule 7A (penalty for failure to deliver a return) is amended as follows.

2

In sub-paragraph (1)—

a

in paragraph (a), after “paragraph 7” insert “, or a revised interest restriction return under paragraph 8(4),”;

b

in paragraph (b), omit “(see sub-paragraph (5) of that paragraph)”.

3

After sub-paragraph (1), insert—

1A

In subsection (1)(b), the reference to the “filing date” in relation to a period of account is—

a

in relation to an interest restriction return under paragraph 7, a reference to the filing date for the purposes of that paragraph (see paragraph 7(5) and (5A));

b

in relation to a revised interest restriction return under paragraph 8(4), a reference to the end of the period within which the return may have effect (see paragraph 8(5)).