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Amendments of Principal Act in relation to 4-year time limit on enquiries, assessments and repayments
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56. The Principal Act is amended—
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(a) in section 46 in subsection (7A) by substituting the following paragraphs for paragraphs (a) and (b):
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“(a) subject to paragraphs (b) and (c), 31 December in the year in which the relevant return is received by the Commissioners,
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(b) in the case of inheritances referred to in sections 15(1) and 20(1), the date on which the relevant return is received by the Commissioners, or
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(c) if later than the date referred to in paragraph (a), where the matter of such conditions being satisfied is relevant to the assessment of the tax concerned, the latest date on which all of the conditions for a relief or exemption were required to be satisfied.”,
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(b) in section 49—
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(i) in subsection (6A) by substituting the following paragraph for paragraph (a):
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“(a) For the purposes of subsection (6) an assessment, a correcting assessment or an additional assessment made in connection with, or in relation to, a relevant return may not be made after the expiry of 4 years from—
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(i) 31 December in the year in which the relevant return is received by the Commissioners, or
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(ii) in the case of inheritances referred to in sections 15(1) and 20(1), the date on which the relevant return is received by the Commissioners.”,
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and
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(ii) by substituting the following subsection for subsection (6B):
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“(6B) Notwithstanding subsection (6A), an assessment, a correcting assessment or an additional assessment may be made by the Commissioners at any time—
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(a) where they have reasonable grounds for believing that any form of fraud or neglect (within the meaning given in section 46(7B)(b)) has been committed by, or on behalf of any accountable person in connection with, or in relation to, any relevant return (within the meaning given in subsection (6A)) which is the subject of assessment, or
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(b) to take account of any fact or matter arising by reason of an event occurring after a relevant return is received by the Commissioners.”,
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and
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(c) in section 57(3) by substituting the following paragraph for paragraph (a):
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“(a) 31 December in the year in which that tax was due to be paid in accordance with section 46(2A), or”.
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