Section 500 | Exclusion of interest where failure to make return

(1)This section applies if for any accounting period a registered society is obliged to make a return under section 887(2) of ITA 2007.

(2)If the society has not made the return within 3 months after the end of the period, no interest paid by it in the period is to be brought into account for the period for the purposes of Part 5.

(3)It does not matter for the purposes of subsection (2) whether the payment would be interest apart from section 499.