COM312 - Index Of Legislation: Finance Act 1998
Section 36 (S36) | Allows the Board to enter into special payment arrangements with companies that are members of groups |
Paragraph 3 (Para 3)Schedule 18 (Sch 18) | Allows HMRC to issue a notice requiring a CTSA return and to specify the form and content of that return |
Para 3(4) Sch 18 | The requirement for a company to deliver a CTSA return to the officer who served the notice to file |
Para 5 Sch 18 | Stipulates the period for which a CTSA return must be made in response to a notice |
Para 5(3) Sch 18 | The requirement for a company to deliver a CTSA return for a part of a specified period prior to the beginning of an Accounting Period (AP) |
Para 6 Sch 18 | Ensures that a notice issued under Para 3 Sch 18 FA 1998 may specify a period that started before 1 July 1999 And Provides that, if such a notice requires a return for a CT Pay and File AP, the provisions of the Taxes Acts apply as if the notice had been given under S11 Taxes Management Act 1970 |
Para 7 Sch 18 | Every company tax return for a CTSA AP must include a self assessment of the amount of tax which is payable |
Para 8 Sch 18 | Provides the rules for the calculation of tax payable |
Para 9 Sch 18 | Claims that cannot be made without a return |
Para 10 Sch 18 | Other claims and elections to be included in a return |
Para 14(1) Sch 18 | Specifies the filing date for a CTSA return |
Para 15 Sch 18 | Enables a company to amend its return |
Para 15(4) Sch 18 | Time limit for company to amend its return |
Para 16 Sch 18 | Enables HMRC to correct obvious errors or omissions in a company’s tax return |
Para 16(3)(b) | Time-limit for HMRC to correct an amended return |
Para 17 Sch 18 | Imposes flat rate penalties for failure to deliver a CTSA return |
Para 17(3) Sch 18 | Imposes increased flat rate penalties for companies delivering a CTSA return late for the third consecutive AP |
Para 18 Sch 18 | Imposes tax related penalties for failure to deliver a CTSA return |
Para 18(1) Sch 18 | Enables the charging of tax related penalties for CTSA return periods |
Para 18(3) Sch 18 | Defines the tax unpaid figure to be used when calculating tax related penalties for a CTSA return period |
Para 18(4) Sch 18 | Excludes from the tax unpaid figure any deferred relief due under S458 Corporation Taxes Act 2010 (formerly S419(4A) Income and Corporation Taxes Act 1988), for a CTSA return period |
Para 19 Sch 18 | Extends the filing date for a CTSA return period to that allowed under the Companies Act 1985 |
Para 20 Sch 18 | Enables the charging of penalties for incorrect or uncorrected returns for CTSA return periods |
Para 24 Sch 18 | Notice of enquiry |
Para 24(2) Sch 18 | Time limit for opening enquiry when return delivered on or before the filing date |
Para 25(1) Sch 18 | Enquiry extends to anything in the return, including claims |
Para 30(3) to (5) Sch 18 | Appeal against a Jeopardy Amendment for a CTSA AP |
Para 31 Sch 18 | Amendment of return by company during enquiry |
Para 34 Sch 18 FA 98, as amended by Section 119 Finance Act 2008 | The closure notice ends an enquiry and amends the return to give effect to the conclusions stated in the notice |
Para 34(3) and (4) Sch 18 | Appeal against a Revenue Amendment following an enquiry on a CTSA AP |
Para 36 Sch 18 | HMRC can make a determination of the tax payable if no return is delivered in response to a notice to file |
Para 37 Sch 18 | HMRC can make a determination of the tax payable for an outstanding period if a notice to file is complied with in part |
Para 38 Sch 18 | Extent of the power to make a Revenue Determination |
Para 39 Sch 18 | Authority for tax charged by a Revenue Determination to be recovered as if it were a self assessment by the company |
Para 40(3) Sch 18 | Time limit for self assessment following a Revenue Determination |
Para 40(4) Sch 18 | Authority to continue proceedings for tax remaining due when a Revenue Determination is superseded by a self assessment |
Para 41(1) Sch 18 | Power to make Discovery Assessment to make good a loss of tax to the Crown |
Para 41(1)(b) Sch 18 | Power to make Discovery Assessment where an assessment to tax insufficient |
Para 41(1)(c) Sch 18 | Power to make Discovery Assessment where excessive relief given |
Para 41(2) Sch 18 | Power to make Discovery Determination where amounts incorrectly stated in return |
Para 42 Sch 18 | Restrictions on power to make Discovery Assessment or Determination |
Para 42(3) Sch 18 | Appeal against Discovery Assessment or Determination |
Para 43 Sch 18 | Discovery Assessment or Determination can be made where there is fraudulent or negligent conduct |
Para 44 Sch 18 | Discovery Assessment or Determination can be made where situation not disclosed by return or related documents |
Para 45 Sch 18 | No Discovery Assessment or Determination to be made where return made in accordance with prevailing practice |
Para 46 Sch 18 | Specifies the general time limit for making assessments |
Para 47 Sch 18 | Notice of assessment to show date of issue and time limit for appeal |
Para 48 Sch 18 | Appeal against an assessment that is not a self assessment on a CTSA AP |
Para 49 Sch 18 | Allows for an appeal against a discovery determination |
Para 52 Sch 18 | Power to recover an amount of tax and / or interest repaid to the company Please note that: These assessments are only made for APs ending on or after 1 July 1999. |
Para 54 Sch 18 | Claims must be quantified at the time when the claim is made |
Para 55 Sch 18 | General time limit for making claims |
Para 56 Sch 18 | Supplementary claim or election to rectify mistakes |
Para 57 Sch 18 | Claims or elections affecting a single AP |
Para 58 Sch 18 | Claims or elections involving more than one AP |
Para 59 Sch 18 | Other claims and elections |
Para 75 Sch 18 | Reduction in amount available for surrender |
Para 75(3) Sch 18 | Company obliged to withdraw notice of consent and issue new notice where amount available for surrender reduced |
Para 75(4) Sch 18 | HMRC direction to surrendering company that notice of consent ineffective or to have effect in lesser amount |
Para 75(6) Sch 18 | Claimant company to amend its return if possible to be consistent with revised notice of consent |
Para 75(7) Sch 18 | Appeal against HMRC direction under Para 75(4) |
Para 76 Sch 18 | Assessment to recover excessive group relief |
Para 97 Sch 18 | Authority to enforce a self assessment or an amended self assessment as if it was a charge to tax by assessment |