Section 217F | Preliminary notices

(1)A designated officer may issue a preliminary notice to a company if they consider that the company has unassessed transfer pricing profits by virtue of section 217B.

(2)A preliminary notice issued under this section must —

(a)state the accounting period to which the unassessed transfer pricing profits relate;

(b)set out the officer’s best judgement of the amount of unassessed transfer pricing profits;

(c)set out the basis on which the officer considers that the conditions mentioned in section 217C(1) are met.

(3)A preliminary notice under this section may not be issued in respect of an accounting period more than 4 years after the end of that period.