BIM80730 - Post-cessation receipts: expenses: relief available under ICTA88/S109A: claim and relief time limits

The claim to relief must be made, for 1994-95 and 1995-96, within two years of the end of the year of assessment in which the payment was made.

ICTA88/S109A (1)

For 1996-97 and later years the time limit for claiming relief is twelve months from the 31st January following the year of assessment in which the payment is made.

Claims must be for qualifying payments made after 28 November 1994 and within seven years of the discontinuance of business. For this purpose the provisions deem a qualifyingpayment to have been made when a debt is shown to be bad (or is released as part of a voluntary arrangement (see BIM42700 onwards). See BIM80745 for more on the relief for bad debts.