Section 525 — Corporation Tax Act 2010: Notice under section 523 or 524: supplementary

Notice under section 523 or 524: supplementary 525 1 A notice under section 523 or 524—

a must be given in writing to an officer of Revenue and Customs, b must be given before the date specified in the notice, c must be accompanied by a statement by the company giving the notice that each of conditions A, B, C, E and F in section 528 (conditions for company) is reasonably expected to be met in relation to the company throughout accounting period 1, and d must contain such other information, and be accompanied by such other documents, as may be prescribed by regulations made by the Commissioners for Her Majesty's Revenue and Customs.

2 Subsection (3) applies if the company giving the notice—

a does not expect to meet condition C in section 528 on the first day of accounting period 1, but b reasonably expects to meet that condition throughout the rest of accounting period 1.

3 If this subsection applies—

a subsection (1)(c) does not apply, but b the notice must be accompanied by a statement by the company containing the assertions specified in subsection (4).

4 Those assertions are—

a that conditions A, B, ... E and F in section 528 are reasonably expected to be met in relation to the company throughout accounting period 1, and b that condition C in that section is reasonably expected to be met in relation to the company for at least a part of the first day of accounting period 1, and throughout the remainder of the period. 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9 For the meaning of “accounting period 1”, see section 609.