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Finance Act 1998
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Changes over time for: Paragraph 2
Version Superseded: 18/04/2005
Alternative versions:
- 31/07/1998- Amendment
- 28/07/2000
Point in time - 18/04/2005- Amendment
- 01/04/2010- Amendment
- 06/04/2020- Amendment
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Point in time view as at 28/07/2000.
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There are currently no known outstanding effects for the Finance Act 1998, Paragraph 2.
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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.
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