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Discovery Assessments under s29 Taxes Management Act 1970 (TMA 1970) are a further way that HMRC can challenge a tax return.
It should be noted, however, that HMRC should not issue a Discovery Notice simply because they are out of time to enquire into an individual’s tax return under s9A TMA 1970.
There are certain conditions which must be satisfied and various deadlines which must be adhered to. It is therefore important to understand that there are limits to their use and HMRC can occasionally raise discovery assessments when they are not entitled to do so.
Generally the time limits available to HMRC to open a discovery assessment are as follows:
Our team has dealt with many discovery notices and where necessary has challenged successfully the validity of the notice. We can help you to manage the enquiry to ensure the very best outcome. If you have received a discovery assessment, please call one of the team to discuss how we can help.
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Armstrong Watson LLP is a limited liability partnership registered in England and Wales, number OC415608. The registered office is 15 Victoria Place, Carlisle, CA1 1EW where a list of members is kept. Armstrong Watson Accountants, Business & Financial Advisers is a trading style of Armstrong Watson LLP. Armstrong Watson LLP is regulated by the Institute of Chartered Accountants in England and Wales for a range of investment business activities.
Armstrong Watson Audit Limited is registered to carry on audit work in the UK and Ireland by the Institute of Chartered Accountants in England and Wales. Registered as a limited company in England and Wales No. 8800970. Registered office: 15 Victoria Place, Carlisle, CA1 1EW
Armstrong Watson Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. Firm reference number 542122. Registered as a limited company in England and Wales No. 7208672. Armstrong Watson Financial Planning & Wealth Management is a trading name of Armstrong Watson Financial Planning Limited. Registered Office: 15 Victoria Place, Carlisle, CA1 1EW