A discovery assessment made under Section 29 TMA 1970 will normally be made when we have evidence there's been a loss of tax for years where no SA enquiry window exists.

HMRC powers will make a discovery assessment either

After the closure of an enquiry window

Or

After an enquiry into that year's SA return has been closed

Subject to the conditions in S29 TMA 1970, see EM3251+, you may make a discovery assessment for a tax year to recover a loss of tax where

There are profits which ought to have been assessed but haven't been assessed

Or

An assessment (including a self-assessment) has become insufficient

Or

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