Taxes Management Act 1970 Schedule 3ZA paragraph 10

Amendment consequential on amendment of partnership return by way of error or mistake relief

Paragraph 10 of Schedule 3ZA deals with the consequential amendments that must be made to individual partners' tax returns when a partnership return has been corrected through error or mistake relief.

• When a partnership return is amended because the original contained an error or mistake, each partner's personal tax return must also be amended to reflect the corrected figures.
• HMRC is required to make the necessary consequential amendments to the individual partners' self-assessment returns.
• This ensures that the tax positions of all affected partners are brought into line with the corrected partnership return.
• The provision was introduced by Finance Act 2001 and subsequently amended by Finance Act 2009.

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