Taxes Management Act 1970

[F1 43A Further assessments: claims etc. U.K.

(1) This section applies where—

[F2 (a) F3 ... by virtue of section 29 of this Act an assessment to income tax or capital gains tax is made on any person for a year of assessment, and]

(b) the assessment is not made for the purpose of making good to the Crown any loss of tax [F4 brought about carelessly or deliberately by that person or by someone acting on behalf of that person.]

(2) Without prejudice to section 43(2) above but subject to section 43B below, where this section applies—

(a) any relevant claim, election, application or notice which could have been made or given within the time allowed by the Taxes Acts may be made or given at any time within one year from the end of the [F5 year of assessment] in which the assessment is made, and

(b) any relevant claim, election, application or notice previously made or given may at any such time be revoked or varied—

(i) in the same manner as it was made or given, and

(ii) by or with the consent of the same person or persons who made, gave or consented to it (or, in the case of any such person who has died, by or with the consent of his personal representatives),

except where by virtue of any enactment it is irrevocable.

[F6 (2A) In subsection (2) above, “claim, election, application or notice” does not include [F7 an election under—

(a) F8 ... [F9 any of sections 47 to 49 of ITA 2007] [F10 (tax reductions for married couples and civil partners: elections to transfer relief)],

(b) Schedule 13B to [F11 the principal Act] (elections as to transfer of children’s tax credit), or

(c) section 35(5) of the Taxation of Chargeable Gains Act 1992 (election for assets to be re-based to 1982).]]

[F12 (2B) For the purposes of this section and section 43B below, a claim under Schedule 1AB is relevant in relation to an assessment for a year of assessment if it relates to that year of assessment.]

(3) For the purposes of this section and section 43B below, [F13 any other claim], election, application or notice is relevant in relation to an assessment for a [F5 year of assessment] if—

(a) it relates to that [F5 year of assessment] or is made or given by reference to an event occurring in that [F5 year of assessment], and

(b) it or, as the case may be, its revocation or variation has or could have the effect of reducing any of the liabilities mentioned in subsection (4) below.

(4) The liabilities referred to in subsection (3) above are—

(a) the increased liability to tax resulting from the assessment,

(b) any other liability to tax of the person concerned for—

(i) the [F14 year of assessment] to which the assessment relates, or

(ii) any [F14 year of assessment] which follows that [F14 year of assessment] and ends not later than one year after the end of the [F14 year of assessment] in which the assessment was made.

(5) Where a claim, election, application or notice is made given, revoked or varied by virtue of subsection (2) above, all such adjustments shall be made, whether by way of discharge or repayment of tax or the making of assessments or otherwise, as are required to take account of the effect of the taking of that action on any person’s liability to tax for any [F14 year of assessment].

(6) The provisions of this Act relating to appeals against decisions on claims shall apply with any necessary modifications to a decision on the revocation or variation of a claim by virtue of subsection (2) above.]

Textual Amendments

F1 Ss. 43A, 43B inserted (with effect in relation to any assessment notice which is issued on or after 27 July 1989) by Finance Act 1989 (c. 26), s. 150

F2 S. 43A(1)(a) substituted (with effect in accordance with s. 117(4)(5) of the amending Act) by Finance Act 1998 (c. 36), Sch. 19 para. 22(2); S.I. 1998/3173, art. 2

F3 Word in s. 43A(1)(a) repealed (with effect in accordance with s. 93 of the amending Act) by Finance Act 1999 (c. 16), Sch. 20 Pt. 3(21)

F4 Words in s. 43A(1)(b) substituted (1.4.2010) by Finance Act 2008 (c. 9), s. 118(2), Sch. 39 para. 13; S.I. 2009/403, art. 2(2) (with art. 10)

F5 Words in s. 43A(2)(3) substituted (with effect in accordance with s. 117(4)(5) of the amending Act) by Finance Act 1998 (c. 36), Sch. 19 para. 22(3); S.I. 1998/3173, art. 2

F6 S. 43A(2A) inserted (16.7.1992) by Finance (No. 2) Act 1992 (c. 48), s. 20, Sch. 5 paras. 9(4), 10

F7 Words in s. 43A(2A) substituted (10.7.2003) by Finance Act 2003 (c. 14), s. 207(2) (with s. 207(3))

F8 Words in s. 43A(2A)(a) omitted (with effect in accordance with Sch. 1 para. 7 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 1 para. 6(a)(iii)

F9 Words in s. 43A(2A)(a) inserted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 254(a) (with Sch. 2)

F10 Words in s. 43A(2A)(a) substituted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 254(b) (with Sch. 2)

F11 Words in s. 43A(2A)(b) substituted (with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 1 para. 254(c) (with Sch. 2)

F12 S. 43A(2B) inserted (with effect in accordance with s. 100(2) of the amending Act) by Finance Act 2009 (c. 10), Sch. 52 para. 5(2) (with Sch. 52 para. 11)

F13 Words in s. 43A(3) substituted (with effect in accordance with s. 100(2) of the amending Act) by Finance Act 2009 (c. 10), Sch. 52 para. 5(3) (with Sch. 52 para. 11)

F14 Words in s. 43A(4)(5) substituted (with effect in accordance with s. 117(4)(5) of the amending Act) by Finance Act 1998 (c. 36), Sch. 19 para. 22(3); S.I. 1998/3173, art. 2

Modifications etc. (not altering text)

C1 S. 43A excluded (with effect in accordance with s. 117(4)(5) of the amending Act) by Finance Act 1998 (c. 36), Sch. 18 para. 63(2) (with Sch. 18 paras. 59(2), 61); S.I. 1998/3173, art. 2