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Finance Act 1998, Paragraph 53 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.
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53(1)An assessment made by virtue of paragraph 52 is not out of time under paragraph 46(1) (general [F14 year] time limit for assessments) if it is made—U.K.
(a)before the end of the accounting period following that in which the amount assessed was paid, or
(b)if later, before the end of the period of three months beginning with the day on which [F2an officer of Revenue and Customs] [F3completes] an enquiry into a relevant company tax return by the company concerned.
(2)Sub-paragraph (1) above is without prejudice to [F4paragraph 46(2) and (2A) (time limit for assessment in case of loss of tax brought about carelessly or deliberately)].
Textual Amendments
F1Words in Sch. 18 para. 53(1) substituted (1.4.2010) by Finance Act 2008 (c. 9), s. 118(2), Sch. 39 para. 44(2); S.I. 2009/403, art. 2(2) (with art. 10)
F2Words in Sch. 18 substituted (18.4.2005) by Commissioners for Revenue and Customs Act 2005 (c. 11), s. 53(1), Sch. 4 para. 68(a); S.I. 2005/1126, art. 2(2)(h)
F3Words in Sch. 18 substituted (18.4.2005) by virtue of Commissioners for Revenue and Customs Act 2005 (c. 11), s. 53(1), Sch. 4 para. 68(c); S.I. 2005/1126, art. 2(2)(h)
F4Words in Sch. 18 para. 53(2) substituted (1.4.2010) by Finance Act 2008 (c. 9), s. 118(2), Sch. 39 para. 44(3); S.I. 2009/403, art. 2(2) (with art. 10)
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