SCHEDULES

SCHEDULE 18 Company tax returns, assessments and related matters

Part V Revenue determinations and assessments

General time limits for assessments

46

(1)

Subject to any provision of the Taxes Acts allowing a longer period in any particular class of case no assessment may be made more than six years after the end of the accounting period to which it relates.

(2)

In a case involving fraud or negligence on the part of—

(a)

the company, or

(b)

a person acting on behalf of the company, or

(c)

a person who was a partner of the company at the relevant time,

an assessment may be made up to 21 years after the end of the accounting period to which it relates.

(3)

Any objection to the making of an assessment on the ground that the time limit for making it has expired can only be made on an appeal against the assessment.