Subsection (2) applies if—
If the company makes its return for that period before the end of the applicable 90 day period (see subsection (12)), it may—
If a company has made a company tax return for an accounting period, the Board may give the company a relevant notice in relation to that period only if a notice of enquiry has been given to the company in respect of its return for that period.
After any enquiries into the return for that period have been completed in relation to any matters, the Board may give the company a relevant notice relating to those matters only if requirements A and B are met.
Requirement A is that at the time the enquiries referred to in subsection (4) were completed, the Board could not have been reasonably expected, on the basis of information made available—
to have been aware that the circumstances were such that a relevant notice could have been given to the company in relation to that period.
For the purposes of requirement A, paragraph 44(2) and (3) of Schedule 18 to the Finance Act 1998 (information made available) applies as it applies for the purposes of paragraph 44(1).
Requirement B is that—
If—
it may amend the return for the purpose of complying with the provision referred to in the notice at any time before the end of the applicable 90 day period.
If the relevant notice is given to the company after it has been given a notice of enquiry in respect of its return for the period, no closure notice may be given in relation to its company tax return until—
Subsection (9) does not apply to a partial closure notice which does not relate to any matter to which the relevant notice relates.
If the relevant notice is given to the company after any enquiries into the return for the period are completed, so far as relating to the matters to which the relevant notice relates, no discovery assessment may be made as regards the chargeable gain to which the notice relates until—
Subsections (2)(b) and (8) do not prevent a company tax return for a period becoming incorrect if—
In this section—
"the applicable 90 day period", in relation to a relevant notice, means the period of 90 days beginning with the day on which the notice is given,
"closure notice" means a notice under paragraph 32 of Schedule 18 to the Finance Act 1998,
"company tax return" means the return required to be delivered pursuant to a notice under paragraph 3 of that Schedule, as read with paragraph 4 of that Schedule,
"discovery assessment" means an assessment under paragraph 41 of that Schedule,
"notice of enquiry" means a notice under paragraph 24 of that Schedule.