Taxation (International and Other Provisions) Act 2010 section Schedule 7A paragraph 27

Estimated information in statements

Section Schedule 7A paragraph 27 sets out the rules that apply when estimated figures are used in interest restriction return statements, including disclosure requirements, a notification obligation if estimates remain unfinalised after 36 months, and HMRC's discretion to accept late revised returns in those circumstances.

• Where any estimated information is included in a statement of calculations, allocated interest restrictions, or allocated interest reactivations, the statement must clearly flag that fact and identify the specific items that are estimates.
• If estimated information included in an interest restriction return has not become final within 36 months after the end of the relevant period of account, the reporting company must notify HMRC within 30 days of the end of that 36-month window.
• The notice to HMRC must identify which information remains unfinalised and indicate when the reporting company expects it to become final. Failure to give this notice attracts a penalty of £500.
• HMRC may accept a revised interest restriction return submitted after the normal deadline, provided the revisions are solely to replace estimates with final figures, it was not possible to revise sooner, and the reporting company has complied with the 36-month notification duty.