Section 332 — Corporation Tax Act 2010: Assessment, recovery and postponement of supplementary charge

Assessment, recovery and postponement of supplementary charge 332 1 The provisions of section 330(1) relating to the charging of a sum as if it were an amount of corporation tax are to be taken as applying all enactments applying generally to corporation tax.

2 But this is subject to—

a the provisions of the Taxes Acts, b any necessary modifications, and c subsection (5).

3 The enactments mentioned in subsection (1) include—

a those relating to returns of information and the supply of accounts, statements and reports, b those relating to the assessing, collecting and receiving of corporation tax, c those conferring or regulating a right of appeal, and d those concerning administration, penalties, interest on unpaid tax and priority of tax in cases of insolvency under the law of any part of the United Kingdom.

4 Accordingly TMA 1970 is to have effect as if any reference to corporation tax included a sum chargeable under section 330(1) as if it were an amount of corporation tax (but this does not limit subsections (1) to (3)).

5 In the Corporation Tax (Treatment of Unrelieved Surplus Advance Corporation Tax) Regulations 1999 (S.I. 1999/358) or any further regulations made under section 32 of FA 1998 (unrelieved surplus advance corporation tax)—

a references to corporation tax do not include a sum chargeable on a company under section 330(1) as if it were corporation tax, and b references to profits charged to corporation tax do not include adjusted ring fence profits, within the meaning of section 330.

6 In this section “ the Taxes Acts ” has the same meaning as in TMA 1970 (see section 118(1) of that Act).