F1PART 5BTax relief for social investments

Annotations:
Amendments (Textual)
F1

Pt. 5B inserted (17.7.2014) by Finance Act 2014 (c. 26), Sch. 11 para. 1

CHAPTER 8Withdrawal or reduction of SI relief: procedure

Assessments and appeals

257SBTime limits for assessments

1

An officer of Revenue and Customs may—

a

make an assessment for withdrawing or reducing the SI relief attributable to whole or any part of the investment, or

b

give a notice under section 257QS(3)(b),

at any time not more than 6 years after the end of the relevant tax year.

2

In subsection (1) “the relevant tax year” means—

a

the tax year containing the end of the 28 months beginning with the investment date, or

b

if later, the tax year in which occurs the event which causes the SI relief to be withdrawn or reduced.

3

Subsection (1) is without prejudice to section 36(1A) of TMA 1970 (loss of tax brought about deliberately etc).