INTM215130 - Controlled Foreign Companies: before CTSA

Notice of direction: amendments to a notice of direction

ICTA88/S751 (4) and (5)

A notice of direction may specify an accounting period which turns out to be wrong. In such cases the Board, under ICTA88/S751 (5), has to amend the direction to give the true period.

If an Inspector finds out that a notice of direction gives the wrong accounting period, the case should be reported to CT & VAT, International CT (Controlled Foreign Companies).

When the Board amends a direction to correct the accounting period, it must give notice to the following:

• Those who received the original notice of direction. The revised notice must state the effect of the amendment. It must include all the information required by (b) to (f) of INTM215110. It must also say in what way it alters the items in the original notice.
• Any other persons who have an interest in the controlled foreign company at some time during the amended period.

The revised notice must show the date of the amendment and include the information required by (a) to (f) of INTM215110. The notice must update (b) and (c) of INTM215110 to show how the amended accounting period alters the position.