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E3.521 Tax claims

Under the regulations an account provider may make tax claims, conduct appeals and, on behalf of the named child or the registered contact, agree liabilities for and reliefs from tax in respect of an account¹; as to the exemptions from tax in respect of child trust fund accounts, see E3.506. Tax claims are to be made to HMRC on both an interim and an annual basis² (see below). Where the amount of any relief or exemption previously given has proved to be excessive, the calculation of the relief on the claim is to be adjusted. Any tax due in respect of account investments, including tax relating to manufactured interest or manufactured overseas dividends, is to be deducted from the claim so that the amount is either set off or repaid to HMRC, even where the amount received as a result of the excessive relief or exemption has been invested in the account³.

Tax claims under the regulations are specifically excluded from the application of TMA 1970, s 42⁴. Claims under