CFM98940 | Interest restriction: administration: record retention and information powers: limitation of powers when enquiry is currently opened into a filed return

TIOPA10/SCH7A/PARA64

The general rule is that once HMRC has received an interest restriction return for a period of account, an officer may not serve a notice under TIOPA10/SCH7A/PARAS 62 or 63. However, this does not apply where an enquiry notice has been served (see CFM98730) and the enquiry has not been closed - per paragraph 58. In practice, these are the circumstances in which it is most likely that HMRC could invoke these information powers. This follows the pattern of FA08/SCH36/PARA21(2) to (8), as regards a company tax return.