EM3243 - Discovery: partnerships, CTSA and SDLT: SDLT

General

The principles of discovery for s29 TMA 1970 and Paragraph 41 to 45 Sch 18 FA 1998 also apply for discovery assessments made under s28, Sch 10, FA 2003.

Who makes the discovery?

A discovery is made when an officer of HMRC reaches a conclusion that a loss of tax exists. Section 113, FA 2003 tells us to read any reference of ‘Inland Revenue’ in the legislation as ‘an officer of the board’.

Who makes the assessment?

A discovery assessment is made by the officer who made the discovery. s113, FA 2003 tells us to read the reference of ‘they’ in the legislation as ‘the officer’.

Time limits

The time limits to make a discovery assessment are the same as the time limits in s34 and s36 TMA 1970 (see EM3214), and Para 46 Sch 18 FA 1998, (see EM3215) apart from one difference: for SDLT, the time limits start after the effective date of the transaction to which the assessment relates.