[F17A(1)A residential property developer must include in its company tax return for an accounting period a statement of—U.K.
(a)its RPD profits in relation to the accounting period,
(b)its adjusted trading profits or adjusted trading losses for that period,
(c)the amount of any joint venture profits that are attributable to the developer for that period,
(d)any allowable RPDT loss relief which the developer is given for that period,
(e)any allowable RPDT group relief claimed by the developer for that period,
(f)any allowable RPDT group relief for carried-forward losses claimed by the developer for that period, and
(g)its allowance for that period,
unless sub-paragraph (2) applies in relation to the accounting period.
(2)This sub-paragraph applies where it is reasonable to assume that the developer would have no liability to residential property developer tax in relation to the accounting period if no amount were deducted in the calculation at section 38 of the Finance Act 2022 in relation to that accounting period in respect of any—
(a)allowable RPDT loss relief,
(b)allowable RPDT group relief, or
(c)allowable RPDT group relief for carried-forward losses.
(3)Terms used in Part 2 of the Finance Act 2022 have the same meaning in this paragraph as in that Part (unless the contrary intention appears).]
Textual Amendments
F1Sch. 18 para. 7A inserted (in relation to accounting periods beginning on or after 1.4.2022) by Finance Act 2022 (c. 3), s. 51(1), Sch. 8 para. 2(3)