1(1)The Commissioners for His Majesty’s Revenue and Customs are responsible for the collection and management of multinational top-up tax.U.K.
(2)This Schedule—
(a)contains provision to enable HMRC to determine when a person is chargeable to multinational top-up tax for an accounting period;
(b)contains requirements to provide information to HMRC for the purposes of multinational top-up and taxes under the law of other territories that are equivalent to multinational top-up tax;
(c)allows for the assessment of amounts of multinational top-up tax;
(d)sets out associated administrative provisions;
(e)makes consequential and other amendments to other enactments.
(3)This Schedule makes provision about a “filing member” of a multinational group (see Part 2) and contains provision requiring such a member to—
(a)register with HMRC (see Part 3);
(b)submit an information return to HMRC (see Part 4);
(c)submit a self-assessment return to HMRC (see Part 5);
(d)keep and preserve records (see Part 9).
(4)Part 10 of this Schedule makes provision for when and how payment of multinational top-up tax payable is to be made.
(5)This Schedule makes provision for—
(a)penalties (see Part 11);
(b)appeals and claims for repayment of overpaid tax (see Part 12).