PART IVU.K. ASSESSMENT AND CLAIMS

Time limits U.K.

[F137AEffect of assessment where allowances transferred.U.K.

Where an assessment is made on any person for the purpose of making good a loss of tax wholly or partly attributable to [F2fraudulent or negligent conduct], the fact that the person’s [F3liability to income tax or] total income for any year of assessment is assessed as greater than it was previously taken to be shall not affect the validity of [F4any income tax reduction or deduction from total income made in the case of that person’s spouse] by virtue of section [F5257BB], 257D or 265 of the principal Act; [F6and the entitlement in that case of the first-mentioned person for the year in question to any income tax reduction or deduction from total income shall be treated as correspondingly reduced].]

Textual Amendments

F1S. 37A inserted (for 1990-91 and subsequent years) by Finance Act 1988 (c. 39), s. 35, Sch. 3 para. 30

F2Words in s. 37A substituted by Finance Act 1989 (c. 26), s. 149(4)(a)(i) (but not to affect the making of assessments before 1983-84 or for accounting periods ending before 1 April 1983)

F3Words in s. 37A inserted (with effect in accordance with s. 77(7) of the amending Act) by Finance Act 1994 (c. 9), Sch. 8 para. 13(a)

F4Words in s. 37A substituted (with effect in accordance with s. 77(7) of the amending Act) by Finance Act 1994 (c. 9), Sch. 8 para. 13(b)

F5Words in s. 37A substituted (16.7.1992) by Finance (No. 2) Act 1992 (c. 48), s. 20, Sch. 5 para. 9(3), 10

F6Words in s. 37A substituted (with effect in accordance with s. 77(7) of the amending Act) by Finance Act 1994 (c. 9), Sch. 8 para. 13(c)