Tradefair & Financials
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Can anyone tell me if HMRC have a statute of Limitation. In other words how far back can they try to claim tax
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20 yrs at extremes but generally 4 (used to be different depending onthe type of tax)
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Up to 6 years. If they find anything within that 6 year period they can go back another 6 years from then.
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Unless you're talking about isle of man funds. They're bast@rds for claiming that back.
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There are different periods for different things.
From memory: Ltd Co accounts, six years of filed accounts, (so upto 7.5 years of real time) PAYE periodic review - 2 years, but opens up if anything found. Personal asssement is usually 4, but can be opened up if anything found. I think they can go back a total of 22 years with good reason too, but it is rare. |