97 Discovery assessments for unassessed income tax or capital gains tax
Finance Act 2022 (2022 c 3) | Legislation

Discovery assesments etc

97  Discovery assessments for unassessed income tax or capital gains tax

(1)     In section 29 of TMA 1970 (assessment where loss of tax discovered), in subsection (1), for paragraph (a) substitute—

“(a)     that an amount of income tax or capital gains tax ought to have been assessed but has not been assessed,”.

(2)     In the Registered Pension Schemes (Accounting and Assessment) Regulations 2005 (SI 2005/3454), omit regulation 9 (which modifies section 29(1)(a) of TMA 1970).

(3)     The amendments made by this section—

(a)     have effect in relation to the tax year 2021–22 and subsequent tax years, and

(b)     also have effect in relation to the tax year 2020–21 and earlier tax years but only if the discovery assessment is a relevant protected assessment (see subsections (4) to (6)).

(4)     A discovery assessment

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