Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

Feedback

01 September 2015
Issue: 4516 / Categories: Forum & Feedback , Admin

Correspondence from readers on topical subjects.

Another discovery

 
In my article “Discovery and all that” (Taxation 6 August 2015) I highlighted the interaction between “discovery” assessing time limits and culpability. It has been pointed out that I did not include any comment in relation to late assessments where the taxpayer has failed to notify chargeability to income tax so on. I hope the following will put that right.
 
So far as income tax and capital gains tax is concerned a taxpayer has an obligation to give notice of chargeability to tax (TMA 1970 s 7 with similar provisions for other taxes). 
 
A taxpayer who fails to do so is liable to a penalty and extended time limits unless he had a reasonable excuse and any required notice was given without unreasonable...

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.

back to top icon