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HMRC internal manual

Company Taxation Manual

From
HM Revenue & Customs
Updated
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ACT: set-off against CT on profits: excessive set-off

Where it was discovered that an excessive amount of ACT has been set-off, the excess had to be recovered. A further assessment to CT was raised on the profits against the tax on which the excessive set-off had been made, (ICTA88/S252).

Normal time limits applied to such assessments except where TMA70/S36 applied (see EM3905), and TMA70/S42 (10) had also to be considered when an assessment was necessary because of a claim.