Search Legislation

Finance Act 2008

 Help about what version

What Version

 Help about advanced features

Advanced Features

Changes over time for: Cross Heading: FA 1998

 Help about opening options

Alternative versions:

Status:

Point in time view as at 01/04/2022.

Changes to legislation:

Finance Act 2008, Cross Heading: FA 1998 is up to date with all changes known to be in force on or before 23 December 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. Help about Changes to Legislation

Close

Changes to Legislation

Changes and effects yet to be applied by the editorial team are only applicable when viewing the latest version or prospective version of legislation. They are therefore not accessible when viewing legislation as at a specific point in time. To view the ‘Changes to Legislation’ information for this provision return to the latest version view using the options provided in the ‘What Version’ box above.

FA 1998U.K.

37U.K.Schedule 18 to FA 1998 (company tax returns) is amended as follows.

38U.K.In paragraph 36(5) (determination of tax payable if no return delivered), for “five years” substitute “ 3 years ”.

Commencement Information

I1Sch. 39 para. 38 in force at 1.4.2010 for the purposes of the amendment made by that paragraph by S.I. 2009/403, art. 2(2) (with art. 10)

39U.K.In paragraph 37(4) (determination of tax payable if notice complied with in part), for “five years” substitute “ 3 years ”.

Commencement Information

I2Sch. 39 para. 39 in force at 1.4.2010 for the purposes of the amendment made by that paragraph by S.I. 2009/403, art. 2(2) (with art. 10)

40U.K.In paragraph 40(3) (time limit for self-assessment superseding determination), for “five years” substitute “ 3 years ”.

Commencement Information

I3Sch. 39 para. 40 in force at 1.4.2010 for the purposes of the amendment made by that paragraph by S.I. 2009/403, art. 2(2) (with art. 10)

41(1)Paragraph 43 (fraudulent or negligent conduct) is amended as follows.U.K.

(2)For “is attributable to fraudulent or negligent conduct on the part of” substitute “ was brought about carelessly or deliberately by ”.

(3)Accordingly, for the heading before the paragraph substitute Loss of tax brought about carelessly or deliberately.

Commencement Information

I4Sch. 39 para. 41 in force at 1.4.2010 for the purposes of the amendments made by that paragraph by S.I. 2009/403, art. 2(2) (with art. 10)

42(1)Paragraph 46 (general time limits for assessments) is amended as follows.U.K.

(2)In sub-paragraph (1), for “six years” substitute “ 4 years ”.

(3)For sub-paragraph (2) substitute—

(2)An assessment in a case involving a loss of tax brought about carelessly by the company (or a related person) may be made at any time not more than 6 years after the end of the accounting period to which it relates (subject to sub-paragraph (2A) and to any other provision of the Taxes Acts allowing a longer period).

(2A)An assessment in a case involving a loss of tax—

(a)brought about deliberately by the company (or a related person),

(b)attributable to a failure by the company to comply with an obligation under paragraph 2, or

(c)attributable to arrangements in respect of which the company has failed to comply with an obligation under section 309, 310 or 313 of the Finance Act 2004 (obligation of parties to tax avoidance schemes to provide information to Her Majesty's Revenue and Customs),

may be made at any time not more than 20 years after the end of the accounting period to which it relates (subject to any provision of the Taxes Acts allowing a longer period).

(2B)In this paragraph “related person”, in relation to a company, means—

(a)a person acting on behalf of the company, or

(b)a person who was a partner of the company at the relevant time.

Commencement Information

I5Sch. 39 para. 42 in force at 1.4.2010 for the purposes of the amendments made by that paragraph by S.I. 2009/403, art. 2(2) (with art. 10)

43U.K.In paragraph 51(1)(c) (relief in case of mistake in return), for “six years” substitute “ 4 years ”.

Commencement Information

I6Sch. 39 para. 43 in force at 1.4.2010 for the purposes of the amendment made by that paragraph by S.I. 2009/403, art. 2(2) (with art. 10)

44(1)Paragraph 53 (time limit for recovery of excessive payments etc) is amended as follows.U.K.

(2)In sub-paragraph (1), for “six year” substitute “ 4 year ”.

(3)In sub-paragraph (2), for “paragraph 46(2) (time limit for assessment in case of fraud or negligence)” substitute “ paragraph 46(2) and (2A) (time limit for assessment in case of loss of tax brought about carelessly or deliberately) ”.

Commencement Information

I7Sch. 39 para. 44 in force at 1.4.2010 for the purposes of the amendments made by that paragraph by S.I. 2009/403, art. 2(2) (with art. 10)

45U.K.In paragraph 55 (general time limit for making claims), for “six years” substitute “ 4 years ”.

Commencement Information

I8Sch. 39 para. 45 in force at 1.4.2010 for the purposes of the amendment made by that paragraph by S.I. 2009/403, art. 2(2) (with art. 10)

46U.K.In paragraph 61(2) (consequential claims etc arising out of certain Revenue amendments or assessments), for “fraudulent or negligent conduct on the part of” substitute “ a loss of tax brought about carelessly or deliberately by ”.

Commencement Information

I9Sch. 39 para. 46 in force at 1.4.2010 for the purposes of the amendment made by that paragraph by S.I. 2009/403, art. 2(2) (with arts. 8, 10)

47(1)Paragraph 65 (consequential claims) is amended as follows.U.K.

(2)In sub-paragraph (1), for “fraudulent or negligent conduct on the part of” substitute “ a loss of tax brought about carelessly or deliberately by ”.

(3)Accordingly, in the heading before the paragraph, for “fraud or negligence” substitute loss of tax brought about carelessly or deliberately.

Commencement Information

I10Sch. 39 para. 47 in force at 1.4.2010 for the purposes of the amendments made by that paragraph by S.I. 2009/403, art. 2(2) (with art. 10)

Back to top

Options/Help

Print Options

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open the Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open the Whole Act without Schedules

The Whole Act without Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open Schedules only

The Schedules you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Point in Time: This becomes available after navigating to view revised legislation as it stood at a certain point in time via Advanced Features > Show Timeline of Changes or via a point in time advanced search.

Close

See additional information alongside the content

Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.

Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

Timeline of Changes

This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.

Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources