SolvedCH56400 | Assessing Time Limits: Tables of time limits for relevant taxes: Insurance premium tax
From HM Revenue & Customs · Compliance Handbook
1. Assessment
Assessment under FA 1994 S56
where returns are not made: section 56(1)(a)
where there is failure to keep necessary documents to verify returns: section 56(1)(b)
where there is failure to afford the facilities necessary to verify returns: section 56(1)(c)
where returns appear to the Commissioner to be incomplete or incorrect: section 56(1)(d)
where claims to credit are incorrect: section 56(2)
Time Limits
4 years after the relevant event - subject to whichever is the later of
a) 12 months evidence of facts rule if assessment made more than 2 years after the end of the accounting period
b) transitional provisions, see CH51570
Legislation
FA1994/S56(5) and FA1994/SCH7/PARA26(1) as amended by FA09/SCH51/PARA4 (2)
2. Assessment
Assessment of an amount due from a person in a case involving a loss of tax
brought about deliberately by the person or by another person acting on that person’s behalf, or
attributable to a failure by the person to comply with an obligation to register under section 53(1) or (2) or 53AA(1) or (3)
Time Limits
20 years after the relevant event
Subject to
a) 12 months evidence of facts rule if assessment made more than 2 years after the end of the accounting period
b) transitional provisions, see CH51575
Legislation
FA1994/S56(5) and FA1994/SCH7/PARA26(4) as amended by FA09/SCH51/PARA4 (5)
3. Assessment
Assessments to interest under FA 1994 SCH7 Para 21on IPT recovered or recoverable by assessment
Time Limits
4 years after the relevant event
or
before 2 years from the date on which the tax due for the accounting period concerned is finally determined
Subject to transitional provisions, see CH51570
Legislation
FA1994/SCH7/PARA26(1), (1A) and (2) as amended by FA09/SCH51/PARA4(2)
4. Assessment
Assessments to penalties under FA1994/SCH7/PARA 12 to 14
Time Limits
4 years after the relevant event
or
before 2 years from the date on which the tax due for the accounting period concerned is finally determined
Subject to transitional provisions, see CH51570
Legislation
FA1994/SCH7/PARA26(1) and (2) as amended by FA09/SCH51/PARA4(2)
5. Assessment
Supplementary assessment under FA1994/SCH7/PARA27
Time Limits
The same time limit as the original assessment subject to 12 months evidence of facts rule if a supplementary assessment to tax is made more than 2 years after the end of the accounting period
Legislation
FA1994/SCH7/PARA27
6. Assessment
Assessment of those people who might be required to make a return on another person’s behalf. Covering personal representatives (including those of a deceased person), trustees in bankruptcy or sequestration, receivers, liquidators or other representatives. FA 1994 S56(4)
Time Limits
4 years after the relevant event
Subject to
a) 12 months evidence of facts rule if assessment made more than 2 years after the end of the accounting period
b) transitional provisions, see CH51570
Legislation
FA1994/S56(5) and FA1994/SCH7/PARA26(1) as amended by FA09/SCH51/PARA4(2)