Section 257GB | Time limits for assessments ^F1

(1)An officer of Revenue and Customs may—^F1

(a)make an assessment for withdrawing or reducing the SEIS relief attributable to any of the relevant shares, or^F1

(b)give a notice under section 257FR(3),^F1

at any time not more than 6 years after the end of the relevant tax year.

(2)In subsection (1) “the relevant tax year” means—^F1

(a)the tax year in which period B ends, or^F1

(b)the tax year in which the event which causes the SEIS relief to be withdrawn or reduced occurs,^F1

whichever is the later.

(3)Subsection (1) is without prejudice to section 36(1A) of TMA 1970 (loss of tax brought about deliberately etc).^F1