SCHEDULE 51 Time Limits for Assessments, Claims etc
Finance Act 2009 (2009 c 10) | Legislation

SCHEDULE 51 Time Limits for Assessments, Claims etc

Section 99

Insurance premium tax

1

Schedule 7 to FA 1994 (insurance premium tax) is amended as follows.

2

In paragraph 8(4) (recovery of overpaid tax), for “three years†substitute “4 yearsâ€.

3

In paragraph 22(9) (interest payable by Commissioners), for “three years†substitute “4 yearsâ€.

4

(1)     Paragraph 26 (assessments: time limits) is amended as follows.

(2)     In sub-paragraph (1), for the words from “three years afterâ€, in the first place, to the end substitute “4 years after the relevant eventâ€.

(3)     After that sub-paragraph insert—

“(1A)     In this paragraph “the relevant eventâ€, in relation to an assessment, means—

(a)     the end of the accounting period concerned, or

(b)     in the case of an assessment under paragraph 25 of an amount due by way of a penalty other than a penalty referred to in paragraph 25(2), the event giving rise to the penalty.â€

(4)     In sub-paragraph (3), for “sub-paragraph (1)†substitute “sub-paragraph (1A)â€.

(5)     For sub-paragraph (4) substitute—

“(4)     An assessment of an amount due from a person in a case involving a loss of tax—

(a)     brought about deliberately by the person

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