MTT52010 - Administration: The information return: Overview

The filing member is required to submit an information return to HMRC for each accounting period in which the group qualifies for MTT, unless the return has already been submitted to another authority outside the UK with which HMRC has an information sharing agreement (a ‘qualifying authority’). In that case, an overseas return notification can be submitted instead.

This is set out in part 4, schedule 14 to Finance (No.2) Act 2023.

Overseas return notification

If the information return has already been submitted to another qualifying authority, the filing member is not required to submit the information return directly to HMRC (although it may still choose to do so). Instead, an ‘overseas return notification’ may be sent to HMRC.

The overseas return notification will include:

  • the name of the jurisdiction to which the information return has been submitted
  • the name of the group member that submitted it

HMRC will then obtain a version of the information return for that period from the qualifying authority using its automatic exchange of information processes.

Filing date

The information return or overseas return notification must be submitted to HMRC within 15 months of the end of the accounting period.

However, a group has 18 months to submit either an information return or overseas notification with HMRC for the first accounting period it is subject to MTT.

The filing date for a return cannot fall before 30 June 2026. Where the deadline would fall before this date, the filing date will instead be 30 June 2026.

Amendments

The information return can be amended by notice to HMRC. Amendments to information returns can be made by the filing member in the period of 12 months starting on the due date of the return (see “time limits” above). The return can be amended any number of times within the time limits.

Penalties

Penalties may apply if the filing member fails to submit an information return or overseas return notification by the filing date. See MTT55430.