[CH51960] CH51960 – Assessing Time Limits: The Time Limits: Insurance Premium Tax, Aggregates Levy, Climate Change Levy and Landfill Tax Limitations: Assessments to recover repayment or refund of over-claimed credits
Assessing time limits: IPT limitations: Repayment or refund of over-claimed credit
There are a number of situations in which a person can claim a credit or a repayment. For example, when their entitlement to a credit exceeds their tax liability for an accounting period. The claim is made under FA1994/S55.
If a person makes such a claim and it is credited or paid when it ought not to have been, you can make an assessment to recover the amount wrongly credited or paid.
You can make an assessment to recover the excess amount within 2 years after the time when the evidence of facts sufficient to justify making the assessment comes to your knowledge.