Taxation of Chargeable Gains Act 1992 Schedule 4 paragraph 7

Claims

Section 9 sets out the time limits and requirements for making a claim for relief under Schedule 4.

• Relief under Schedule 4 is only available if a formal claim is made — it is not given automatically.
• The claim must be submitted within two years from the end of the accounting period in which the disposal occurs or the gain is treated as accruing.
• HMRC may allow a longer period for making the claim if a request is made.
• The company bears the burden of proof and must provide all particulars the inspector requires to establish entitlement and the amount of relief due.