SCHEDULES

SCHEDULE 15U.K.Tax treatment of financing costs and income

Part 4U.K.Exemption of financing income

Company tax returnsU.K.

35(1)This paragraph applies where—U.K.

(a)a company to which this Part applies has delivered a company tax return for a relevant accounting period, and

(b)as a result of the submission of a revised statement of allocated exemptions under paragraph 32—

(i)there is a change in the amount of profits on which corporation tax is chargeable for the period, or

(ii)any other information contained in the return is incorrect.

(2)The company is treated as having amended its company tax return for the accounting period so as to reflect the change mentioned in sub-paragraph (1)(b)(i) or to correct the information mentioned in sub-paragraph (1)(b)(ii).