Corporation Tax Act 2009 section 42

Lease premiums: time limits for claims for repayment of tax

Section 42 of Schedule 2 provides a transitional rule extending the time limit for making repayment claims relating to lease premium tax charges from 4 years to 6 years, until the Treasury formally appoints a day to bring the standard 4-year limit into effect.

• The normal time limit for claiming repayment of tax on lease premiums under sections 238 and 239 is 4 years, but this is temporarily extended to 6 years.
• The 6-year time limit remains in place until the Treasury makes an order appointing a specific day to switch to the 4-year limit.
• The Treasury may appoint different days for different purposes when making such an order.
• Any order made by the Treasury may include transitional provisions and savings to manage the changeover.