Taxes Management Act 1970 section 11AB

Power to enquire into return of profits

Section 11AB establishes HMRC's power to open an enquiry into a return of profits submitted by a company or other body, setting out the conditions and time limits for doing so.

• HMRC has the power to open a formal enquiry into a return of profits by issuing a written notice to the person who submitted the return.
• The enquiry notice must be issued within a specified time limit, generally within twelve months of the filing date or the date the return was actually delivered, whichever is later.
• An enquiry may cover the entire return or be limited to specific aspects of it, including any claim or election included in the return.
• This power was introduced by the Finance Act 1998 as part of reforms to the self-assessment regime for companies.

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