HMRC Discovery Assessments

Question 1

When can a discovery assessment be raised by HMRC?

Answer 1

If HMRC come into possession of information about a taxpayer’s tax affairs after the normal time limit for compliance checks has passed

Question 2

What is the time limit for raising a discovery assessment if there has been no careless or deliberate behaviour?

Answer 2

4 years from the end of the relevant period

Question 3

What is the time limit for raising a discovery assessment if there has been careless behaviour?

Answer 3

6 years from the end of the relevant period

Question 4

What is the time limit for raising a discovery assessment if there has been deliberate behaviour?

Answer 4

20 years from the end of the relevant period

Question 5

What is the relevant period for income tax and CGT?

Answer 5

Tax year

Question 6

What is the relevant period for corporation tax?

Answer 6

Financial year

Question 7

What is the relevant period for VAT?

Answer 7

Quarter