Taxes Consolidation Act 1997 section 924

Additional assessments

Section 924 (deleted by Finance Act 2012, section 129(2)) provided for additional first assessments where a taxpayer had been undercharged or not assessed to income tax under Schedule D, E or F.

• An inspector could raise an additional first assessment where property or profits were omitted, a full return was not delivered, the taxpayer was undercharged, or an unauthorised allowance or relief was given.
• The additional assessment generally had to be made within 4 years after the end of the year of assessment to which it related.
• There was no time limit for additional assessments where the undercharge arose from fraud or neglect, though a person was not treated as negligent if information was provided within a Revenue-granted time extension or without undue delay after a reasonable excuse ceased.
• For Schedule E emoluments received in a later year but relating to an earlier year, the 4-year time limit ran from the year in which the emoluments were received.