Taxes Management Act 1970

43 Time limit for making claims. [1952 s.507; 1964(M) Sch.IV; 1965 Sch.X 1(1); 1966 Sch.VI 11(2).] [1964(M) Sch.IV; 1965 Sch.X 1(1).] U.K.

(1) Subject to any provision of the Taxes Acts prescribing a longer or shorter period F1 , no claim for relief under the Taxes Acts shall be allowed unless it is made within six years from the end of the chargeable period F2 to which it relates . . . F3 F4 .

(2) A claim (including a supplementary claim) which could not have been allowed but for the making of an assessment to income tax or capital gains tax after the year of assessment to which the claim relates may be made at any time before the end of the year of assessment following that in which the assessment was made.

(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F5

Textual Amendments

F1 As to longer time limits, see—Income and Corporation Taxes Act 1970 (c. 10, SIF 63:1) s.280(6)—adjustments consequential on depreciatory transaction within a group of companies.Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1) s. 36—adjustment of charge on sale of land with right to reconveyance. Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1) s. 62—commencing provisions for income tax under Sch. D Cases Iand II.Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1) s. 67—sources of income chargeable to income tax underSch. D Case III, IVor Vwhich are disposed of or cease to yield income. Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1) s. 419(4)—adjustments of assessments on close companies to tax on loans to participators and to shortfall tax.Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1) ss. 448and 806—double taxation relief. Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1) s. 534—relief for copyright royalties, etc.Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1) s. 585—relief on delayed remittances of overseas income. Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1) s. 619—consequential adjustments of relief for retirement annuity premiums.Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1) s. 700—adjustments on completion of administration of deceased person's estate. Income and Corporation Taxes Act 1988 (c. 1, SIF 63:1) s. 781(7)—adjustments on cancellation of certain reliefs for payments under leases of plant etc.S.I. 1956 No. 1230 regn.21 (inPart III Vol.5)regn. 21—adjustments in respect of certain purchased life annuities.

F2 See—S.I. 1974 No. 896 regn. 4(2) (inPart III Vol.5)and S.I. 1989 No. 421, Schedulefor modification in relation to Lloyd's Underwriters.S.I. 1990 No. 627, regn. 3(2)and Schedule (in Part III Vol. 5)—modification for underwriters for 1987-88.

F3 Words relating to development land tax added byDevelopment Land Tax Act 1976 (c. 24) Sch.8 para.12.Development Land Tax Act 1976 repealed byFinance Act 1985 s.98(6)andSch.27 Part X.

F4 See—Finance Act 1981 s.134andSch.17 para.18—application of s.43(1) to the special tax on banking deposits.Income and Corporation Taxes Act 1988 Sch. 26application ofs.43to a claim for relief underSch. 26where the chargeable profits of a controlled foreign company are apportioned to a company resident in the UK.

F5 S. 43(3) added by Development Land Tax Act 1976 (c. 24) Sch. 8 para. 12. Development Land Tax Act 1976 repealed by Finance Act 1985 (c.54), s. 98(6), Sch. 27 Part X.

Modifications etc. (not altering text)

C1 S. 43 modified (27.7.1993) by 1993 c. 34, s. 194(4)

C2 S. 43(1) modified (19.4.1991) for the year of assessment 1988-1989 by S.I. 1991/851, regs. 1, 9, Sch. 2

S. 43(1) modified (28.3.1992) for the year of assessment 1989-90 by S.I. 1992/511, reg. 9, Sch.2

C3 S. 43(1) applied (with modifications) (23.3.1993 with effect for the year of assessment 1990-91 only) by S.I. 1993/415, regs. 1(1), 9, Sch.2