Finance (No. 2) Act 2023

305 Claims to shortfall amounts

(1) Part 8 of Schedule 18 to FA 1998 applies to a claim to a shortfall amount under section 299 as it applies to a claim for group relief under Part 5 of CTA 2010.

(2) That Part has effect for the purposes of a claim to a shortfall amount as if—

(a) references to “relief” were to the relief from electricity generator levy given by claiming a shortfall amount,

(b) references to “accounting period” were to “qualifying period”, except where the context otherwise requires (for example, in references to the company tax return for the accounting period),

(c) references to “company” (apart from in “company tax return”) were to “generating undertaking” (and if the context requires in the case of a generating undertaking that is a group, references were to the lead member of the group),

(d) in paragraph 68, sub-paragraphs (3) to (8) were omitted,

(e) in paragraph 69(3), in the first step, “under Part 5 or (as the case may be ) Part 5A of the Corporation Tax Act 2010” were omitted,

(f) in paragraph 70—

(i) in sub-paragraph (1), for “Requirement 1 in section 130(2), 135(2), 188CB(3) or (as the case may be) 188CC(3) of the Corporation Tax Act 2010” there were substituted “section 299(9)(a) of the Finance (No. 2) Act 2023”, and

(ii) sub-paragraphs (2), (5) and (6) were omitted,

(g) in paragraph 71—

(i) in sub-paragraph (1), for paragraph (e) there were substituted—

“(e) the overlap period to which the shortfall amount relates.”, and

(ii) sub-paragraph (1A) were omitted,

(h) paragraphs 71A, 72, 75A, 77 and 77A were omitted, and

(i) such other modifications as are necessary were made.