Taxes Management Act 1970 Schedule 3ZA paragraph 8

Amendment consequential on amendment of partnership return by closure notice

Paragraph 8 deals with the payment or repayment of tax that arises when a partner's personal or trustee self-assessment is amended as a consequence of a partnership return being amended through a closure notice.

• This paragraph applies where a partner's self-assessment is amended because HMRC has amended the partnership return by issuing a closure notice following an enquiry.
• Any tax payable or repayable as a result of this consequential amendment must be settled within 30 days of the notice being given.
• The deadline is specifically the day after the end of the 30-day period beginning on the day the notice was issued.
• This ensures that partners promptly settle any tax adjustments flowing from changes to the partnership return, rather than waiting until a later date.