Background Note
105.Schedule 39 to FA 2008 amends, from 1 April 2010 with transitional provision from 1 April 2009, most of the time limits that apply to claims and assessments for income tax, capital gains tax, corporation tax and VAT. The period for making claims is generally set at 4 years. The normal assessing time limit also becomes 4 years. For direct taxes it is 6 years where the loss of tax is brought about carelessly. For all taxes it is 20 years where the loss of tax is brought about deliberately or where there is a failure to notify liability or disclose avoidance arrangements.
106.The provisions of this Schedule make corresponding changes to the limit limits that apply to claims and assessments for insurance premium tax, inheritance tax, stamp duty land tax, petroleum revenue tax, aggregates levy, climate change levy and landfill tax. For some of these there is no requirement to notify liability or disclose avoidance arrangements, and so there is no extended time limit in those circumstances.
