[F1Amendment of self-assessment during enquiry to prevent loss of taxU.K.
Textual Amendments
F1Sch. 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)
45(1)If after notice of enquiry has been given into an interest restriction return but before the enquiry is completed, an officer of Revenue and Customs forms the opinion that—U.K.
(a)the amount stated in the self-assessment of a company as the amount of tax payable is insufficient,
(b)the deficiency is attributable to matters in relation to which the enquiry extends, and
(c)unless the assessment is immediately amended there is likely to be a loss of tax to the Crown,
the officer may by notice to the company amend its self-assessment to make good the deficiency.
(2)In sub-paragraph (1) the reference to a company is to a company that was a member of the group at any time in the period of account for which the interest restriction return was submitted.
(3)An appeal may be brought, by notice, against an amendment of a company's self-assessment by an officer of Revenue and Customs under this paragraph.
(4)Notice of appeal must be given—
(a)within 30 days after the amendment was notified to the company,
(b)to the officer of Revenue and Customs by whom the notice of amendment was given.
(5)None of the steps mentioned in section 49A(2)(a) to (c) of TMA 1970 (reviews of the matter or notification of appeal to tribunal) may be taken in relation to the appeal before the completion of the enquiry.
(6)In this paragraph “self-assessment” has the meaning given by paragraph 7 of Schedule 18 to FA 1998.]