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10.—(1) The provisions of the Income Tax Acts about the time within which an assessment may be made apply to assessments under these Regulations, so far as those provisions refer or relate to—
(a)the tax year for which an assessment is made, or
(b)the year to which an assessment relates.
(2) Paragraph (1) applies despite the fact that an assessment under these Regulations may relate to a return period which is not a tax year.
(3) The provisions of section 36 of TMA 1970 (fraudulent or negligent conduct) about the circumstances in which an assessment may be made out of time apply accordingly on the basis that any such assessment relates to the tax year in which the return period ends.
(4) Section 87 of TMA 1970 (late payments of tax on assessments made or payments due under Schedule 16 to ICTA) applies for the purposes of a payment due under regulation 4 or an assessment made under regulation 8 or 9.
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