Taxation of Chargeable Gains Act 1992 Schedule 4ZA paragraphs 14–16

Power to make enquiries

Paragraphs 14 to 16 of Schedule 4ZA set out HMRC's power to open an enquiry into a claim or election made under the Schedule, including the time limits for doing so and the procedures that apply.

• HMRC may open a formal enquiry into any claim or election made under the Schedule by issuing a written notice to the person who made it.
• The enquiry notice must be given within the statutory time limit, which mirrors the enquiry window that applies to tax returns under the self-assessment regime.
• Once an enquiry is opened, HMRC may request information and documents relevant to the claim or election, and the taxpayer is required to co-operate with the process.
• The enquiry is completed when HMRC issue a closure notice, which must state their conclusions and any amendments to the claim or election that follow from those conclusions.

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