Finance Act 2008

ITA 2007 U.K.

54 U.K. ITA 2007 is amended as follows.

55 U.K. In section 40(1)(a) (election for transfer of blind person's allowance), for “on or before the fifth anniversary of the normal self-assessment filing date for” substitute “ not more than 4 years after the end of ”.

Commencement Information

I1 Sch. 39 para. 55 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)

56 U.K. In section 46(6)(b) (marriages and civil partnerships on or after 5 December 2005: election specifying person entitled to relief), for “on or before the fifth anniversary of the normal self-assessment filing date for” substitute “ not more than 4 years after the end of ”.

Commencement Information

I2 Sch. 39 para. 56 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)

57 U.K. In section 53(4)(a) (notice in respect of transfer of unused relief), for “on or before the fifth anniversary of the normal self-assessment filing date for” substitute “ not more than 4 years after the end of ”.

Commencement Information

I3 Sch. 39 para. 57 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)

58 U.K. In section 155 (claim for loss relief against miscellaneous income), in each of subsections (1) and (2), for “on or before the fifth anniversary of the normal self-assessment filing date for” substitute “ not more than 4 years after the end of ”.

Commencement Information

I4 Sch. 39 para. 58 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)

59 (1) Section 237 (EIS relief: time limits for assessments) is amended as follows. U.K.

(2) In subsection (1)—

(a) omit “not”, and

(b) for “more than” substitute “ at any time not more than ”.

(3) In subsection (3)—

(a) for “36” substitute “ 36(1A) ”, and

(b) for “(fraudulent or negligent conduct)” substitute “ (loss of tax brought about deliberately etc) ”.

Commencement Information

I5 Sch. 39 para. 59 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)

60 U.K. In section 372 (withdrawal or reduction of community investment tax relief), insert at the end—

“(4) An assessment under this paragraph may be made at any time not more than 6 years after the end of the tax year for which the relief was obtained.

(5) Subsection (4) is without prejudice to section 36(1A) of TMA 1970 (loss of tax brought about deliberately etc).”

Commencement Information

I6 Sch. 39 para. 60 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)

61 U.K. In section 668(7) (claim for relief for unremittable transfer proceeds), for “on or before the fifth anniversary of the normal self-assessment filing date for” substitute “ not more than 4 years after the end of ”.

Commencement Information

I7 Sch. 39 para. 61 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)

62 U.K. In section 669(4) (claim for relief for unremittable transfer proceeds: section 630 profits), for “on or before the fifth anniversary of the normal self-assessment filing date for” substitute “ not more than 4 years after the end of ”.

Commencement Information

I8 Sch. 39 para. 62 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)