Changes to time limits for tax assessments and claims
Just a brief reminder that from 1 April 2010 (1 April 2009 for VAT) the time limit for you to make changes to assessments and/or file missed claims on Capital Gains Tax, Corporation Tax, Income Tax, PAYE and VAT has reduced to four years.
The new time limits apply to assessments and claims made after 1 April 2010 (1 April 2009 for VAT) regardless of the period to which the assessment or claim relates.
For HMRC, however, whilst the normal time limit is four years they have extended rights where you have been careless (a six year limit) or where tax has been deliberately avoided (a 20 year limit).
You can find full details on HMRC’s briefing note.
Cathy Corns is a tax adviser and a partner at Mercer & Hole. The views given in this blog are personal to the author, if you would like to discuss the contents of this post with Cathy you can call her on 01908 605552.
Date: 13th May, 2010
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