Taxes Management Act 1970 Schedule 4 paragraph 3

Assessments

Schedule 4 paragraph 3 sets out historical time limits restricting the application of certain assessment provisions to older tax years and earlier-signed assessments.

• The extended time limit for careless or deliberate loss of tax (section 36) does not apply to any tax year before 1936–37.
• The requirement for Commissioners' leave before making certain assessments (section 41) does not apply to any assessment signed before 6 April 1965.
• These are transitional provisions preserving the treatment of very old tax matters under earlier rules.
• In practice, these restrictions are now of historical significance only, as the tax years and dates involved are long past.