(1)This section applies where a charging notice is issued to a company (“the foreign company”) by reason of section 86 applying in relation to it for an accounting period.
(2)At any time during F2... the review period [F3except the last 30 days of that period], the avoided PE may amend a company tax return made by it so as to reduce the taxable diverted profits arising to the foreign company in the accounting period.]
[F4(3)Paragraph 31(3) of Schedule 18 to FA 1998 (amendment not to take effect during enquiry) does not apply in relation to an amendment made under subsection (2).]
Textual Amendments
F1Ss. 101A, 101B inserted (12.2.2019) by Finance Act 2019 (c. 1), Sch. 6 para. 12
F2Words in s. 101B(2) omitted (with effect in accordance with s. 28(5) of the amending Act) by virtue of Finance Act 2022 (c. 3), s. 28(3)(a)(i)
F3Words in s. 101B(2) inserted (with effect in accordance with s. 28(5) of the amending Act) by Finance Act 2022 (c. 3), s. 28(3)(a)(ii)
F4S. 101B(3) inserted (with effect in accordance with s. 28(5) of the amending Act) by Finance Act 2022 (c. 3), s. 28(3)(b)