Search Legislation

Finance Act 1998

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Paragraph 2

 Help about opening options

Version Superseded: 18/04/2005

Status:

Point in time view as at 28/07/2000.

Changes to legislation:

There are currently no known outstanding effects for the Finance Act 1998, Paragraph 2. Help about Changes to Legislation

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 the Inland Revenue 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.

Back to top

Options/Help