Taxation (International and Other Provisions) Act 2010 section 183

Giving effect to section 182 claims

Section 183 sets out the procedural rules for how a section 182 claim (a claim by a potentially disadvantaged person in a transfer pricing context) is processed and what happens if the claim is made before the relevant transfer pricing calculation has been finalised.

• A section 182 claim falls outside the normal company tax return and assessment rules in Schedule 18 to the Finance Act 1998, because it relates to the deduction of tax rather than standard self-assessment.
• Instead, the claim is handled under the standalone claims procedure set out in Schedule 1A to the Taxes Management Act 1970.
• If a section 182 claim is made before the required transfer pricing calculation under section 176 has been completed, and the claim turns out to be inconsistent with that calculation once it is made, the claim is automatically treated as if it had been made on a basis consistent with the calculation.
• HMRC may make whatever adjustments are necessary (including issuing assessments) to give effect to this deemed correction, and these adjustments can be made regardless of any normal time limits.