- Latest available (Revised)
- Point in Time (24/02/2003)
- Original (As enacted)
Version Superseded: 01/03/2003
Point in time view as at 24/02/2003. This version of this provision has been superseded.
You are viewing this legislation item as it stood at a particular point in time. A later version of this or provision, including subsequent changes and effects, supersedes this version.
Note the term provision is used to describe a definable element in a piece of legislation that has legislative effect – such as a Part, Chapter or section.
Taxes Management Act 1970, Section 40 is up to date with all changes known to be in force on or before 17 August 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.
(1)For the purpose of the charge of tax on the executors or administrators of a deceased person in respect of the income, or chargeable gains, which arose or accrued to him before his death, the time allowed by section 34, 35 or 36 above shall in no case extend beyond the end of [F1the period of three years beginning with the 31st January next following the year of assessment] in which the deceased died.
(2)F2... , for the purpose of making good to the Crown any loss of tax attributable to the [F3fraudulent or negligent conduct] of a person who has died, an assessment on his personal representatives to tax for any year of assessment ending not earlier than six years before his death may be made at any time before the end of [F1the period of three years beginning with the 31st January next following the year of assessment] in which he died.
(3)In [F4this section] “tax” means income tax or capital gains tax.
[F5(4)Any act or omission such as is mentioned in section 98B below, on the part of a grouping (as defined in that section) or member of a grouping shall be deemed for the purposes of subsection (2) above to be the act or omission of each member of the grouping.]
F6(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F6(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Words in s. 40(1)(2) substituted (with effect in accordance with s. 199(2)(3) of the amending Act) by Finance Act 1994 (c. 9), Sch. 19 para. 12; S.I. 1998/3173, art. 2
F2 Words repealed by Finance Act 1989 s. 187and Sch. 17 Part VIII.
F3Finance Act 1989 s. 149 para. (4)(a)(ii) but not to affect making of assessments before 1983-84or for accounting periods ending before 1April 1983.
F4 Words in s. 40(3) substituted by Finance Act 1985 (c. 54), s. 93(7), Sch. 25 para. 5
F5S. 40(4) inserted (with effect on and after 1 July 1989) by Finance Act 1990 (c. 29), s. 69, Sch. 11 para. 4(2).
F6 S. 40(4)(5) added by Development Land Tax Act 1976 Sch. 8 para. 9; Development Land Tax Act 1976 repealed by Finance Act 1985 s. 98(6), Sch. 27 Part X.
Modifications etc. (not altering text)
C1S. 40 modified by Finance Act 1988 (c. 39), Sch. 5 para. 9 (underwriter's agent) (repealed (31.1.2013) by Statute Law (Repeals) Act 2013 (c. 2), s. 3(2), Sch. 1 Pt. 10 Group 1)
C2S. 40 modified (27.7.1993) by 1993 c. 34, s. 173, Sch. 19 Pt. I para. 8
C3S. 40(1)(2) applied (with modifications) (19.4.1991 for the year of assessment 1988-89) by S. I. 1991/851, regs. 1, 3(2), Sch. 1
S. 40(1)(2) extended (with modifications) (28.3.1992 for the year of assessment 1989-90) by S.I. 1992/511, regs. 1,3, Sch. 1
C4S. 40(1)(2) applied (with modifications) (23.3.1993 with effect for the year of assessment 1990-91 only) by S.I. 1993/415, regs. 1(1), 3(2), Sch.1
C5S. 40(1)(2) applied (with modifications) (with effect in accordance with reg. 1(1) of the amending S.I.) by The Lloyds Underwriters (Tax) (1991-92) Regulations 1994 (S.I. 1994/728), reg. 3(2), Sch. 1
C6S. 40(1)(2) modified (with effect in accordance with reg. 6(3) of the amending S.I.) by The Lloyds Underwriters (Tax) (199293 to 199697) Regulations 1995 (S.I. 1995/352), regs. 1(1), 6(1)(2)
C7S. 40(1)(2) modified (with effect in accordance with reg. 7(3) of the amending S.I.) by The Lloyds Underwriters (Tax) (199293 to 199697) Regulations 1995 (S.I. 1995/352), regs. 1(1), 7(1)(2)
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download.
Would you like to continue?
The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.
Would you like to continue?
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.
Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.
Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: