Capital allowances: claims by companies.

Finance Act 1990
1990 c.29 - continued

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	SCHEDULE 16
Section 102.
	Capital Allowances: Claims by Companies

	"
Section 145A.
	Corporation Tax Allowances: Claims
	Introductory
	1. — (1) This Schedule has effect as respects claims for allowances which fall to be made under the provisions of this Act as they apply for the purposes of corporation tax. (2) Section 42 of the [1970 c. 9.] Taxes Management Act 1970 (procedure for making claims) shall not apply to such claims.
	Time limits
	2. — (1) No claim for an accounting period of a company may be made if— (a) the claim affects an amount for the period which is determinable under section 41A of the Taxes Management Act 1970, and (b) a determination of the amount under that section has become final. (2) Sub-paragraph (1) above shall not apply in the case of a claim made before the end of 2 years from the end of the period. (3) Sub-paragraph (1) above shall not apply where— (a) the company has been assessed to corporation tax for the period, and (b) the assessment has not become final and conclusive. (4) This paragraph applies to the withdrawal of a claim as it applies to the making of a claim.
	3. — (1) No claim for an accounting period of a company may be made if— (a) the company has been assessed to corporation tax for the period, and (b) the assessment has become final and conclusive. (2) Sub-paragraph (1) above shall not apply in the case of a claim made before the end of 2 years from the end of the period. (3) Sub-paragraph (1) above shall not apply where— (a) the claim affects an amount for the period which is determinable under section 41A of the [1970 c. 9.] Taxes Management Act 1970, and (b) a determination of the amount under that section has either not been made or, if made, has not become final. (4) This paragraph applies to the withdrawal of a claim as it applies to the making of a claim.
	4. — (1) No claim for an accounting period of a company may be made after the end of 6 years from the end of the period, except under paragraph 6 below. (2) This paragraph applies to the withdrawal of a claim as it applies to the making of a claim.
	5. Where under paragraph 2, 3 or 4 above a claim may not be made after a certain time, it may be made within such further time as the Board may allow.
	6. — (1) A claim for an accounting period of a company may be made after the end of 6 years from the end of the period if— (a) the company has been assessed to corporation tax for the period before the end of 6 years from the end of the period, (b) the company has appealed against the assessment, and (c) the assessment has not become final and conclusive. (2) No claim for an accounting period of a company may be made under this paragraph after the end of 6 years and 3 months from the end of the period.
	Method of making claim
	7. — (1) A claim shall be made by being included in a return under section 11 of the Taxes Management Act 1970 (corporation tax return) for the period for which the claim is made. (2) In sub-paragraph (1) above the reference to a claim being included in a return includes a reference to a claim being included by virtue of an amendment of the return. (3) This paragraph applies to the withdrawal of a claim as it applies to the making of a claim.
	Nature of claim
	8. A claim, other than one under paragraph 6 above, shall be for an amount which is quantified at the time the claim is made.
	9. — (1) A claim under paragraph 6 above shall be expressed to be conditional, as to the amount claimed, on, and only on, the outcome of one or more relevant matters specified in the claim. (2) For the purposes of this paragraph a matter is relevant if it is relevant to the determination of the assessment of the claimant company to corporation tax for the period for which the claim is made.
	Adjustments
	10. — (1) All such assessments or adjustments of assessments shall be made as may be necessary to give effect to a claim or the withdrawal of a claim. (2) An assessment under this paragraph shall not be out of time if it is made— (a) in the case of a claim, within one year from the date mentioned in sub-paragraph (3) below, and (b) in the case of the withdrawal of a claim, within one year from the date on which the claim is withdrawn. (3) The date referred to above is— (a) in a case where the claim affects an amount for the period for which the claim is made which is determinable under section 41A of the [1970 c. 9.] Taxes Management Act 1970, the date on which a determination of the amount under that section becomes final; (b) in any other case, the date on which an assessment of the claimant company to corporation tax for the period for which the claim is made becomes final and conclusive.
	11. Where a claim affecting an amount determinable under section 41A of the Taxes Management Act 1970 is made or withdrawn after a determination of the amount under that section has become final, the determination shall be adjusted accordingly."


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Prepared 20th September 2000