Section 257SB | Time limits for assessments ^F1

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

(a)make an assessment for withdrawing or reducing the SI relief attributable to whole or any part of the investment, or^F1

(b)give a notice under section 257QS(3)(b),^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 containing the end of the 28 months beginning with the investment date, or^F1

(b)if later, the tax year in which occurs the event which causes the SI relief to be withdrawn or reduced.^F1

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