SCHEDULES

F1(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4)In paragraph 2(1) (company assumed to have become resident in the United Kingdom at the beginning of the first accounting period in respect of which a direction is given under section 747(1) and to have continued so resident etc) for “in respect of which a direction is given under section 747(1) and” there shall be substituted—

“(a)in respect of which a direction is given under section 747(1), or

(b)which is an ADP exempt period,

and . ”

(5)In paragraph 4 (maximum reliefs assumed to have been claimed etc unless notice requesting other treatment is given by UK resident company or companies with a majority interest) after sub-paragraph (1) there shall be inserted—

“(1A)Sub-paragraph (2) below applies to any accounting period of the company—

(a)in respect of which a direction is given under section 747(1); or

(b)which is an ADP exempt period.”

(6)In sub-paragraph (2) of that paragraph (notice to be given not later than the expiry of the time for making an appeal under s.753 or within such longer period as the Board may allow)—

(a)at the beginning there shall be inserted “ Where this sub-paragraph applies to an accounting period of the company, then ”; [F2and

F2(b)for “the time for the making of an appeal under section 753” there shall be substituted “ the appropriate period ”.]

[F3(7)After that sub-paragraph there shall be inserted—

“(2A)For the purposes of sub-paragraph (2) above, “the appropriate period”—

(a)in the case of an accounting period in respect of which a direction is given under section 747(1), means the time for the making of an appeal under section 753; and

(b)in the case of an accounting period which is an ADP exempt period, means the period of twenty months following the end of the accounting period.”]

F4(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F4(9). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(10)In paragraph 10 (capital allowances for expenditure incurred on machinery or plant before the first accounting period in respect of which a direction is given under section 747(1)) for “in respect of which a direction is given under section 747(1), the” there shall be substituted—

“(a)in respect of which a direction is given under section 747(1), or

(b)which is an ADP exempt period, the”.

F5(11). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .