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CH57000 | Assessing Time Limits: Tables of time limits for relevant taxes: Stamp Duty Reserve Tax

From HM Revenue & Customs · Compliance Handbook

1a. Assessment

Assessment to recover an under-payment of tax:

  • determination of an amount due from a person in a case involving loss of tax brought about

Time Limit

  • with no careless or deliberate behaviour - 4 years after the relevant accountable date

  • carelessly by the person or by another person acting on that person’s behalf - 6 years after the relevant accountable date

  • deliberately by the person or by another person acting on that person’s behalf - 20 years after the relevant accountable date

Legislation

SDRT Regulations 1986/REG12 and 13 as amended by SI2010/664

1b. Assessment

Assessment to recover an over-payment of tax:

  • determination of an amount due from a person in a case involving loss of tax brought about

Time Limit

  • with no careless or deliberate behaviour - 4 years after the relevant repayment

  • carelessly by the person or by another person acting on that person’s behalf - 6 years after the relevant repayment

  • deliberately by the person or by another person acting on that person’s behalf - 20 years after the relevant repayment

Legislation

SDRT Regulations 1986/ REG18 as amended by SI2010/664

2. Assessment

Assessment of penalties under TMA 70*

Time Limit

6 years after the date on which the penalty was incurred or 3 years after the final determination of the amount of tax on which the penalty is based.

* Not penalties under FA2007/SCH24, these are subject to SCH24/PARA13 time limits.

Legislation

TMA70/S100-103 applied by FA86/S98

* Not penalties under FA2007/SCH24, these are subject to SCH24/PARA13 time limits.