Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

Compliance Handbook

From
HM Revenue & Customs
Updated
, see all updates

Assessing Time Limits: Tables of time limits for relevant taxes: Insurance premium tax

  Assessment Time Limit Legislation
       
1 Assessment under FA 1994 S56 where returns are not made: section 56(1)(a)where there is failure to keep necessary documents to verify returns: section 56(1)(b)where there is failure to afford the facilities necessary to verify returns: section 56(1)(c)where returns appear to the Commissioners to be incomplete or incorrect: section 56(1)(d)where claims to credit are incorrect: section 56(2)  4 years after the relevant eventsubject to whichever is the later of a) 12 months evidence of facts rule if assessment made more than 2 years after the end of the accounting periodb) transitional provisions, see CH51570. FA1994/S56(5)FA1994/SCH7/PARA26(1) as amended by FA09/SCH51/PARA4 (2)
2 Assessment of an amount due from a person in a case involving a loss of tax(a) brought about deliberately by the person or by another person acting on that person’s behalf, or(b) attributable to a failure by the person to comply with an obligation to register under section 53(1) or (2) or 53AA(1) or (3) 20 years after the relevant eventsubject to a) 12 months evidence of facts rule if assessment made more than 2 years after the end of the accounting periodb) transitional provisions, see CH51575. FA1994/S56(5)FA1994/SCH7/PARA26(4) as amended by FA09/SCH51/PARA4 (5)
3 Assessments to interest under FA 1994 SCH7 Para 21on IPT recovered or recoverable by assessment 4 years after the relevant eventorbefore 2 years from the date on which the tax due for the accounting period concerned is finally determinedsubject to transitional provisions, see CH51570. FA1994/SCH7/PARA26(1), (1A) & (2) as amended by FA09/SCH51/PARA4(2)
4 Assessments to penalties under FA1994/SCH7/PARA 12 to 14 4 years after the relevant eventorbefore 2 years from the date on which the tax due for the accounting period concerned is finally determinedsubject to transitional provisions, see CH51570. FA1994/SCH7/PARA26(1) & (2) as amended by FA09/SCH51/PARA4(2)
5 Supplementary assessment under FA1994/SCH7/PARA27 The same time limit as the original assessment subject to 12 months evidence of facts rule if a supplementary assessment to tax is made more than 2 years after the end of the accounting period. FA1994/SCH7/PARA27
6 Assessment of those people who might be required to make a return on another person’s behalf. Covering personal representatives (including those of a deceased person), trustees in bankruptcy or sequestration, receivers, liquidators or other representatives. FA 1994 S56(4) 4 years after the relevant eventsubject to a) 12 months evidence of facts rule if assessment made more than 2 years after the end of the accounting periodb) transitional provisions, see CH51570. FA1994/S56(5)FA1994/SCH7/PARA26(1) as amended by FA09/SCH51/PARA4(2)