Regulation 27 Repayments in respect of tax to account provider—annual tax claims
An annual tax claim is a claim for repayment in respect of tax for a year and may not be made at any time more than six years after the end of the year.
Where the account provider—
has made at least one interim tax claim during a year, or
wishes to reclaim tax, or there is due to the Board an amount in respect of tax, following the end of the year,
the account provider shall within six months after the end of the year make an annual tax claim to establish the total of tax repayments due under an account for that year.
Where the aggregate of the repayments in respect of interim tax claims for the year shown by an annual tax claim exceeds the amount of tax repayable for the year shown on the claim, the account provider shall repay the amount of the excess to the Board with the claim.
If an account provider fails to make the annual tax claim required under paragraph (2)(a) within the time limited, the Board may issue a notice to the account provider showing the aggregate of payments in respect of the interim tax claims for the year, and stating that the Board are not satisfied that the amount due to the account provider for that year exceeds the lower amount stated in the notice.
If an annual tax claim is not delivered to the Board within 14 days after the issue of a notice under paragraph (4) the amount of the difference between the aggregate and the lower amount stated in the notice shall immediately become recoverable by the Board in the same manner as tax charged by an assessment on the account provider which has become final and conclusive.
Where an annual tax claim has been made and the account provider subsequently discovers that an error or mistake has been made in the claim the account provider may make a supplementary annual claim within the time allowed in paragraph (1).