Section 648 | Adjustments of liability

(1)If an adjustment of a housing association's liability to corporation tax is necessary as a result of a claim under section 642, the adjustment may be made by an assessment, by repayment of tax or otherwise.

(2)A housing association's liability to corporation tax may be adjusted by means of assessments or otherwise if—

(a)a claim by the housing association under section 642 or 643 is included in a company tax return,

(b)an enquiry is made into the tax return, and

(c)an amendment is made to the tax return as a result of the enquiry.

(3)A housing association's liability to corporation tax may be adjusted by means of assessments or otherwise if—

(a)an enquiry is made under paragraph 5 of Schedule 1A to TMA 1970 into a claim made by the association under section 642 or 643, or into an amendment of such a claim, and

(b)an amendment is made to the claim as a result of the enquiry.

(4)Adjustments under subsection (2) or (3) may be made for all relevant accounting periods.