Corporation Tax Act 2009 section 965

Assessments, adjustments and claims after the administration period

Section 965 deals with how corporation tax positions on estate income are corrected when the true liability only becomes apparent after the estate's administration period has ended.

• Where a company turns out to owe more corporation tax on estate income than originally thought, it can be assessed and taxed for the relevant accounting period, and may claim any relief or additional relief due
• Where a company turns out to owe less corporation tax on estate income than originally thought (or none at all), all necessary adjustments and repayments must be made
• If relief previously given exceeds what was actually due based on the correct liability, the excess is treated as income chargeable to corporation tax for that accounting period
• Any assessment, adjustment or claim arising from these provisions may be made outside the normal time limit, provided it is made on or before the third anniversary of the 31 January following the accounting period in which the administration period ends