Section 257GB — Income Tax Act 2007: Time limits for assessments

Time limits for assessments 257GB 1 An officer of Revenue and Customs may—

a make an assessment for withdrawing or reducing the SEIS relief attributable to any of the relevant shares, or b give a notice under section 257FR(3), at any time not more than 6 years after the end of the relevant tax year.

2 In subsection (1) “ the relevant tax year ” means—

a the tax year in which period B ends, or b the tax year in which the event which causes the SEIS relief to be withdrawn or reduced occurs, whichever is the later.

3 Subsection (1) is without prejudice to section 36(1A) of TMA 1970 (loss of tax brought about deliberately etc ).