SolvedDMBM580020 | Pre-enforcement: alternative rights of recovery: assessed taxes
From HM Revenue & Customs · Debt Management and Banking Manual
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Assessed taxes
In some circumstances, particularly where Capital Gains are assessed, it is possible to recover debts from a person or company other than the person originally assessed. The alternatives are listed in the table below
| Tax on | If not paid within | may be recovered from | under | time for alternative to be assessed |
|---|---|---|---|---|
| Trustees of a settlement | 6 months from due and payable date | the beneficiary | TCGA1992/S69(4) | 2 years from the due date |
| Trustee resident abroad | At anytime | Any former trustees resident in the UK | TCGA1992/S82(2) | 3 years from the tax being finally determined |
| Shares or debentures exchanged in a company reconstruction or amalgamation | 6 months from the later of the due and payable date or date assessment made | Person originally holding them | TCGA1992/S137(4) | 2 years from the later of the due and payable date or date assessment made |
| Transfer of business assets | 6 months from the later of the due and payable date and the date assessment made | Person receiving the assets | TCGA1992/S139(7) | 2 years from the later of the due and payable date and the date assessment made |
| Transfer of business assets when a company leaves a group | 6 months from the due and payable date | Principal company in the group | TCGA1992/S178(9) & S179 (11) | 2 years from due and payable date |
| Capital distribution of chargeable gains | 6 months from the later of the due and payable date and the date assessment made | Shareholder defined in S189(1) | TCGA1992/S189(2) | 2 years from the later of the due and payable date and the date assessment made |
| Gain accruing to a member of a group of companies | 6 months from the later of the due and payable date and the date assessment made | Another member company | TCGA1992/S190(1) | 2 years from the later of the due and payable date and the date assessment made |
| Gain accruing to a non-resident company | 6 months from the later of the due and payable date and the date assessment made | Another member company or the controlling director | TCGA1992/S191(2) | 3 years from the later of the due and payable date and the date assessment made |
| Disposal of asset by way of a gift | 12 months from the due and payable date | Person receiving the gift | TCGA1992/S282(1) | 2 years from the due and payable date |
| Migrating companies | At any time | Another company in the same group or a controlling director | FA1988/S132(2) | 3 years from the tax being finally determined |
| Higher rate tax due from beneficiary (1994/5 and earlier only) | 6 months from the due date | Trustees of the discretionary trust | ICTA1988/S689 | No limit |
| Trustees of an employee share ownership trust | 6 months from the assessment being final and conclusive | The company | FA89/S68(3) | No limit |