237Time limits for assessments
This section has no associated Explanatory Notes
(1)An officer of Revenue and Customs may not—
(a)make an assessment for withdrawing or reducing the EIS relief attributable to any of the relevant shares, or
(b)give a notice under section 234(3)(b),
more than 6 years after the end of the relevant tax year.
(2)In subsection (1) “the relevant tax year” means—
(a)the tax year in which the time mentioned in section 175(3) (the use of money raised requirement) falls, or
(b)the tax year in which the event which causes the EIS relief to be withdrawn or reduced occurs,
whichever is the later.
(3)Subsection (1) is without prejudice to section 36 of TMA 1970 (fraudulent or negligent conduct).