Search Legislation

Finance Act 2008

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Paragraph 34

 Help about opening options

Changes to legislation:

Finance Act 2008, Paragraph 34 is up to date with all changes known to be in force on or before 31 January 2025. 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

34(1)Section 77 (assessments: time limits and supplementary assessments) is amended as follows.U.K.

(2)In subsection (1)(a) and (b), for “3 years” substitute “ 4 years ”.

(3)For subsection (4) substitute—

(4)In any case falling within subsection (4A), an assessment of a person (“P”), or of an amount payable by P, may be made at any time not more than 20 years after the end of the prescribed accounting period or the importation, acquisition or event giving rise to the penalty, as appropriate (subject to subsection (5)).

(4A)Those cases are—

(a)a case involving a loss of VAT brought about deliberately by P (or by another person acting on P's behalf),

(b)a case in which P has participated in a transaction knowing that it was part of arrangements of any kind (whether or not legally enforceable) intended to bring about a loss of VAT,

(c)a case involving a loss of VAT attributable to a failure by P to comply with a notification obligation, and

(d)a case involving a loss of VAT attributable to a scheme in respect of which P has failed to comply with an obligation under paragraph 6 of Schedule 11A.

(4B)In subsection (4A) the references to a loss of tax brought about deliberately by P or another person include a loss that arises as a result of a deliberate inaccuracy in a document given to Her Majesty's Revenue and Customs by that person.

(4C)In subsection (4A)(c) “notification obligation” means an obligation under—

(a)paragraph 5, 6, 7 or 14(2) or (3) of Schedule 1,

(b)paragraph 3 of Schedule 2,

(c)paragraph 3 or 8(2) of Schedule 3,

(d)paragraph 3, 4 or 7(2) or (3) of Schedule 3A, or

(e)regulations under paragraph 2(4) of Schedule 11.

(4)In subsection (5)—

(a)in paragraph (a), for “3 years” substitute “ 4 years ”, and

(b)omit paragraph (b) and the “and” before it.

Commencement Information

I1Sch. 39 para. 34 in force at 1.4.2009 for the purposes of the amendments made by that paragraph by S.I. 2009/403, art. 2(1) (with arts. 4, 9)

Back to top

Options/Help

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?