[F141CTime limitsU.K.
(1)A determination of an amount may be made under section 41A of this Act at any time not later than 6 years from the end of the period to which the amount relates.
(2)Subject to subsection (3) below, a direction in relation to a determination may be issued under section 41B of this Act at any time not later than 6 years from the end of the period to which the determination relates.
(3)A direction in relation to a determination may be issued under section 41B of this Act at any time not later than 20 years from the end of the period to which the determination relates if the excess by virtue of which the power conferred by that section is exercisable is attributable to the fraudulent or negligent conduct of—
(a)the company given notice of the determination under section 41A of this Act, or
(b)a person acting on its behalf.]
Textual Amendments
F1Ss. 41A, 41B, 41C and cross-heading inserted (with effect in relation to accounting periods ending after the day appointed for the purposes of s. 10 of the Taxes Act 1988) by Finance Act 1990 (c. 29), s. 95 (with s. 96)