DMBM580020 - Pre-enforcement: alternative rights of recovery: assessed taxes
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Assessed taxes
In some circumstances, particularly where Capital Gains are assessed, it is possible to recover debts from a person or company other than the person originally assessed. The alternatives are listed in the table below
Tax on |
If not paid within |
may be recovered from |
under |
time for alternative to be assessed |
|---|---|---|---|---|
Trustees of a settlement |
6 months from due and payable date |
the beneficiary |
TCGA1992/S69(4) |
2 years from the due date |
Trustee resident abroad |
At anytime |
Any former trustees resident in the UK |
TCGA1992/S82(2) |
3 years from the tax being finally determined |
Shares or debentures exchanged in a company reconstruction or amalgamation |
6 months from the later of the due and payable date or date assessment made |
Person originally holding them |
TCGA1992/S137(4) |
2 years from the later of the due and payable date or date assessment made |
Transfer of business assets |
6 months from the later of the due and payable date and the date assessment made |
Person receiving the assets |
TCGA1992/S139(7) |
2 years from the later of the due and payable date and the date assessment made |
Transfer of business assets when a company leaves a group |
6 months from the due and payable date |
Principal company in the group |
TCGA1992/S178(9) & S179 (11) |
2 years from due and payable date |
Capital distribution of chargeable gains |
6 months from the later of the due and payable date and the date assessment made |
Shareholder defined in S189(1) |
TCGA1992/S189(2) |
2 years from the later of the due and payable date and the date assessment made |
Gain accruing to a member of a group of companies |
6 months from the later of the due and payable date and the date assessment made |
Another member company |
TCGA1992/S190(1) |
2 years from the later of the due and payable date and the date assessment made |
Gain accruing to a non-resident company |
6 months from the later of the due and payable date and the date assessment made |
Another member company or the controlling director |
TCGA1992/S191(2) |
3 years from the later of the due and payable date and the date assessment made |
Disposal of asset by way of a gift |
12 months from the due and payable date |
Person receiving the gift |
TCGA1992/S282(1) |
2 years from the due and payable date |
Migrating companies |
At any time |
Another company in the same group or a controlling director |
FA1988/S132(2) |
3 years from the tax being finally determined |
Higher rate tax due from beneficiary (1994/5 and earlier only) |
6 months from the due date |
Trustees of the discretionary trust |
ICTA1988/S689 |
No limit |
Trustees of an employee share ownership trust |
6 months from the assessment being final and conclusive |
The company |
FA89/S68(3) |
No limit |