COM23071 | Assessing: CTSA assessments: discovery assessments (Action Guide)

To prepare a discovery assessment, consider steps 1 - 9 below.

1. Use function TAXW (View Taxpayer Work Lists) to find any open work list entries that may need attention during or after the issue of the discovery assessment.

2. Use function DASS (Display Assessment Details) to view any assessments that have already been issued for the Accounting Period (AP).

3. If necessary, take prints of the assessments so you have the figures you need at step 6.

4. If S458 relief is included in the assessments, set the ‘CII’ signal using the ‘other signals’ button in function MAPS (Maintain AP Signals) and use SEES to issue form CT250(P) to HMRC Payments by attaching to an eForm which is accessed through My Services.

5. Use the ‘prepare/amend a discovery assessment’ option in function RAMA (Record/Amend Assessment).

6. So COTAX can calculate the tax for the AP, enter:

• the total of all amounts already assessed to Corporation Tax for the AP in any type of COTAX assessment (revenue determination, self assessment, discovery assessment and so on)

• any additional amounts you have newly discovered

• the total amount of any reliefs due for the AP

7. So COTAX can calculate the further amount to make good the loss of tax, use the ‘non-standard reduction’ field to enter the total amount of tax already assessed in all other COTAX assessments for the AP.

8. Make a free format note that says this notice shows all amounts now assessed and credit for tax already assessed, for the period shown. A letter will follow.

9. Issue a letter of explanation to the company or its agent.