COM52040 - Claims / reliefs: CTSA claims frameworks: claims / elections that must be made with return

A company may not make certain claims before it delivers its company tax return for the period to which the claim relates. For details, see Paragraph 9 Schedule 18 FA 1998. These are claims for:

• repayments of income tax under Section 7(2) ICTA 1988
• repayments of income tax due to exemptions from income tax under the Corporation Tax Acts
• while it lasts, payments of tax credit, unless the company is either wholly exempt from CT or is liable only on trading income and the tax credit is not one for which the company may claim a payment on account under Schedule 19AB ICTA 1988
• relief under the corporate venturing scheme.

See COM52012 for legislation applying to this subject.