SCHEDULE 13
Contents of return
2
F1(1)
Subject to F2paragraph 7(2) below, the return made by a company for any return period shall show—
(a)
the amount of the franked payments, if any, made by it in that period,
(b)
the amount of franked investment income, if any, received by it in that period,
(c)
if any advance corporation tax is payable in respect of the franked payments, the amount thereof,
(d)
F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(e)
F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(f)
F3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(2)
The return shall specify—
F4(a)
whether any amount of franked payments is included under paragraph (a) of sub-paragraph (1) above in consequence of the giving of a notice under section 247(3) and, if so, the amount so included;
F5(b)
whether any estimated amount of franked payments is included under that paragraph by virtue of paragraph 7(2) below and, if so, the amount so included;
(c)
whether any estimated amount of advance corporation tax is included under paragraph (c) of sub-paragraph (1) above by virtue of paragraph 7(2) below and, if so, the amount so included.
(3)
For the purposes of paragraph (b) of sub-paragraph (1) above the amount of franked investment income received by a company in a return period shall be treated as including the excess, if any, of—
(a)
any surplus of franked investment income carried forward to the accounting period for which the return is made; and
(b)
any amount of franked investment income received by the company in that accounting period but before the beginning of the return period,
over the amount of any franked payments made by the company in that accounting period but before the beginning of the return period.
(4)
For the purposes of paragraph (c) of sub-paragraph (1) above advance corporation tax shall be payable in respect of franked payments made in a return period if—
(a)
the amount shown under paragraph (a) of that sub-paragraph exceeds the amount shown under paragraph (b) of that sub-paragraph, or
(b)
no amount is shown under paragraph (b) of that sub-paragraph;
and the amount of that tax shall be calculated F6in accordance with sub-paragraph (4A) below.
F7(4A)
The tax mentioned in sub-paragraph (4) above shall be calculated at a rate equal to nine-tenths of the rate of advance corporation tax in force for the financial year in which the return period ends—
(a)
in a case falling within paragraph (a) of that sub-paragraph, on the excess mentioned in that paragraph; or
(b)
in a case falling within paragraph (b) of that sub-paragraph, on the amount shown under sub-paragraph (1)(a) above.
F8(5)
F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(6)
F9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .