CTM21450 - ACT: FID: repayment or set off of ACT: procedure
ICTA88/S246Q (1) - (8)
ACT was repaid or set off under the FID scheme.
The set off was against the company鈥檚 CT liability for the relevant period, after any ACT set off under ICTA88/S239 (1) for that period.
Any excess was repayable, but only after nine months from the end of the relevant period.
The 鈥榬elevant period鈥� was the accounting period in which the FID was paid.
ACT that was repaid or set off under the FID provisions could not also be set off under ICTA88/S239 (1) against the company鈥檚 CT liability for any accounting period, or surrendered under ICTA88/S240.
Claims for repayment or set off of ACT were normally made on a return. Claims on a return or amended return could be accepted as long as they were supported by the particulars you required. A claim not made in a return had to be supported by such particulars.
ACT which was set off or repaid as a result of a claim might already have been carried forward under ICTA88/S239 (4) and set off against CT liability for a later accounting period. If that happened you needed to raise an ICTA88/S252 assessment on the basis that the ACT set off by virtue of ICTA88/S239 (4) should not have been made.
In deciding whether ACT repaid or set off under the FID provisions had already been set off against CT liability of a later period, the ACT repaid or set off was treated as set off against the CT liability after the set off of any other amounts of ACT that were available.