Taxation (International and Other Provisions) Act 2010 section 69

Amendments to take account of operation of this Part of this Act (including elections)

Section 69 sets out the time limits within which a company may amend its corporation tax return to make or revoke elections under the corporate interest restriction rules, and to reflect disallowances or reactivations of interest deductions.

• A company may amend its tax return to make or revoke a section 375 election (full disallowance where a compliant interest restriction return is submitted) up to the later of the filing date for the relevant period of account or three months after HMRC receives the interest restriction return.
• Where section 376 requires a company to leave an amount out of account (disallowance where no return or a non-compliant return has been submitted) and the company has already filed its tax return, it must amend that return within three months of the relevant date defined in section 376.
• A company may amend its tax return to make or revoke elections under section 377 (identifying which tax-interest amounts are disallowed) or section 380 (identifying which amounts are reactivated) up to the later of 36 months after the end of the accounting period or three months after HMRC receives a relevant interest restriction return.
• These time limits override the normal time limit for amending a corporation tax return under paragraph 15(4) of Schedule 18 to the Finance Act 1998.

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