CH57000 - Assessing Time Limits: Tables of time limits for relevant taxes: Stamp Duty Reserve Tax
1a. Assessment
Assessment to recover an under-payment of tax:
- determination of an amount due from a person in a case involving loss of tax brought about
Time Limit
- with no careless or deliberate behaviour - 4 years after the relevant accountable date
- carelessly by the person or by another person acting on that person’s behalf - 6 years after the relevant accountable date
- deliberately by the person or by another person acting on that person’s behalf - 20 years after the relevant accountable date
Legislation
SDRT Regulations 1986/REG12 and 13 as amended by SI2010/664
1b. Assessment
Assessment to recover an over-payment of tax:
- determination of an amount due from a person in a case involving loss of tax brought about
Time Limit
- with no careless or deliberate behaviour - 4 years after the relevant repayment
- carelessly by the person or by another person acting on that person’s behalf - 6 years after the relevant repayment
- deliberately by the person or by another person acting on that person’s behalf - 20 years after the relevant repayment
Legislation
SDRT Regulations 1986/ REG18 as amended by SI2010/664
2. Assessment
Assessment of penalties under TMA 70*
Time Limit
6 years after the date on which the penalty was incurred or 3 years after the final determination of the amount of tax on which the penalty is based.
* Not penalties under FA2007/SCH24, these are subject to SCH24/PARA13 time limits.
Legislation
TMA70/S100-103 applied by FA86/S98
* Not penalties under FA2007/SCH24, these are subject to SCH24/PARA13 time limits.