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HMRC internal manual

Capital Gains Manual

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HM Revenue & Customs
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Recovery of CT from shareholders: assessment under TCGA92 S189: timing

TCGA92/S189

An assessment under Section 189 charging a shareholder connected with the company to an amount of Corporation Tax (in the name of the company) may be made where

  • the Corporation Tax assessment on the company for the accounting period in which the chargeable gain accrued included an amount in respect of chargeable gains, and
  • (for accounting periods ending before 1 October 1993) any of the tax charged by the assessment has not been paid within six months from the normal due and payable date
  • (for accounting periods ending after 30 September 1993) any of the tax charged by the assessment has not been paid within six months from the later of

    • the normal due and payable date
    • the date the assessment was made on the company.

The assessment must be made within two years of the normal due and payable date for accounting periods ending before 1 October 1993 and within two years of the applicable date for accounting periods ending after 30 September 1993.

See AC3370 for details of the assessing procedure.