Taxation (International and Other Provisions) Act 2010 section 79

Time limits for action if tax adjustment makes credit excessive or insufficient

Section 79 provides an extended time limit for making assessments or claims where a double taxation relief credit turns out to be too much or too little because of a tax adjustment in the UK or abroad.

• Where a foreign tax credit is reduced, or becomes excessive or insufficient due to an adjustment of tax payable in the UK or another territory, a special extended time limit applies to any resulting claim or assessment.
• The claim or assessment must be made no later than 6 years from the date when all material determinations have been finalised, whether in the UK or elsewhere.
• The normal statutory time limits for making assessments or claiming relief under the Tax Acts and capital gains tax legislation do not apply in these circumstances.
• A "material determination" means any assessment, reduction, adjustment or other determination that is relevant to deciding whether credit is due and, if so, how much.