CH56400 - Assessing Time Limits: Tables of time limits for relevant taxes: Insurance premium tax

1. Assessment

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 Commissioner to be incomplete or incorrect: section 56(1)(d)
  • where claims to credit are incorrect: section 56(2)

Time Limits

4 years after the relevant event - subject 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 period
  • b) transitional provisions, see CH51570

Legislation

FA1994/S56(5) and FA1994/SCH7/PARA26(1) as amended by FA09/SCH51/PARA4 (2)

2. Assessment

Assessment of an amount due from a person in a case involving a loss of tax

  • brought about deliberately by the person or by another person acting on that person’s behalf, or
  • 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)

Time Limits

20 years after the relevant event

Subject to

  • a) 12 months evidence of facts rule if assessment made more than 2 years after the end of the accounting period
  • b) transitional provisions, see CH51575

Legislation

FA1994/S56(5) and FA1994/SCH7/PARA26(4) as amended by FA09/SCH51/PARA4 (5)

3. Assessment

Assessments to interest under FA 1994 SCH7 Para 21on IPT recovered or recoverable by assessment

Time Limits

  • 4 years after the relevant event

or

  • before 2 years from the date on which the tax due for the accounting period concerned is finally determined

Subject to transitional provisions, see CH51570

Legislation

FA1994/SCH7/PARA26(1), (1A) and (2) as amended by FA09/SCH51/PARA4(2)

4. Assessment

Assessments to penalties under FA1994/SCH7/PARA 12 to 14

Time Limits

  • 4 years after the relevant event

or

  • before 2 years from the date on which the tax due for the accounting period concerned is finally determined

Subject to transitional provisions, see CH51570

Legislation

FA1994/SCH7/PARA26(1) and (2) as amended by FA09/SCH51/PARA4(2)

5. Assessment

Supplementary assessment under FA1994/SCH7/PARA27

Time Limits

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

Legislation

FA1994/SCH7/PARA27

6. Assessment

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)

Time Limits

4 years after the relevant event

Subject to

  • a) 12 months evidence of facts rule if assessment made more than 2 years after the end of the accounting period
  • b) transitional provisions, see CH51570

Legislation

FA1994/S56(5) and FA1994/SCH7/PARA26(1) as amended by FA09/SCH51/PARA4(2)