CTM90150 - CTSA: introduction: key
The following are the key features of CTSA which mirror those of
- The return required by a notice to deliver
must contain the company's SA, which is final subject to taxpayer
amendment or formal Revenue enquiry. There will usually be no need
for assessment by the Revenue.
- The Revenue have:
- nine months from the date the return is filed to
correct any obvious errors in the return,
- twelve months (minimum) from the filing date in
which to start enquiries into the return.
- The company is required to keep such
records as are needed in order to make a correct and complete
return, and to preserve them, usually for six years.
- There is a new information power where an
enquiry is open. It allows the Revenue to require production of
documents and information, without involving the appeal
Commissioners, and imposes penalties for failure to comply.
- The company can appeal against use of the
- The company can ask the appeal
Commissioners to order the Revenue to close an enquiry.
- If no return is delivered, the Revenue has
power to make a Revenue determination of the company's tax
liability. The determination has the same effect as a SA and is not
subject to appeal. But if the company then makes a SA, it
supersedes the determination.
- The Revenue retains the power to make a
discovery assessment if information comes to light indicating that
the SA was inadequate as a result of fraudulent or negligent
conduct, or of incomplete disclosure. This will only be used when
the time limit for opening an enquiry has passed or an enquiry has
already been closed for the period in question.