Duty to give notice of chargeabilityU.K.
2(1)A company which—U.K.
(a)is chargeable to tax for an accounting period, and
(b)has not received a notice requiring a company tax return,
must give notice to [F1an officer of Revenue and Customs] that it is so chargeable.
(2)The notice must be given within twelve months from the end of the accounting period.
(3)A company which fails to comply with this paragraph is liable to a penalty not exceeding the amount of tax payable for the accounting period in question that remains unpaid twelve months after the end of the period.
(4)In computing the amount of unpaid tax for this purpose, no account shall be taken of any relief under section 419(4) of the Taxes Act 1988 (relief in respect of repayment, etc. of loan) which is deferred under subsection (4A) of that section.
Textual Amendments
F1Words in Sch. 18 substituted (18.4.2005) by Commissioners for Revenue and Customs Act 2005 (c. 11), s. 53(1), Sch. 4 para. 68(a); S.I. 2005/1126, art. 2(2)(h)