A4.320 Normal time limits for income tax, capital gains tax and corporation tax assessments—overview
Ordinary time limits
The ordinary time limits apply for income tax, capital gains tax and corporation tax where the loss of tax has arisen despite the taxpayer (and their agent or any other related person) having taken reasonable care (ie they were not careless).
For a discussion of reasonable care in the context of penalties, see A4.532A. For commentary on carelessness, see A6.709.
Assessments raised by HMRC are often called 'discovery assessments', as they are issued when HMRC discovers a loss of tax. For commentary on discovery assessments, see A6.703
Income tax and capital gains tax
From 1 April 2010 the ordinary time limit for making an assessment to income tax and capital gains tax is four years after the end of the tax year1.
For these purposes, an 'assessment' does not include a self-assessment (ie a calculation submitted by a taxpayer
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