Section 12ABB — Taxes Management Act 1970: Correction of partnership return by Revenue

Correction of partnership return by Revenue 12ABB 1 An officer of the Board may amend a partnership return so as to correct —

a obvious errors or omissions in the return (whether errors of principle, arithmetical mistakes or otherwise) , and b anything else in the return that the officer has reason to believe is incorrect in the light of information available to the officer .

2 A correction under this section is made by notice to the partner who made and delivered the return, or his successor.

3 No such correction may be made more than nine months after—

a the day on which the return was delivered, or b if the correction is required in consequence of an amendment of the return under section 12ABA of this Act, the day on which that amendment was made.

4 A correction under this section is of no effect if the person to whom the notice of correction was given, or his successor, gives notice rejecting the correction.

5 Notice of rejection under subsection (4) above must be given—

a to the officer of the Board by whom the notice of correction was given, b before the end of the period of 30 days beginning with the date of issue of the notice of correction.

6 Where a partnership return is corrected under this section, the officer shall by notice to each of the partners amend—

a the partner’s return under section 8 or 8A of this Act, or b the partner’s company tax return, so as to give effect to the correction of the partnership return. Any such amendment shall cease to have effect if the correction is rejected.