{
  "url": "https://openlegislation.uk/finance-act-1998/schedule-18/paragraph-41",
  "json_url": "https://openlegislation.uk/finance-act-1998/schedule-18/paragraph-41.json",
  "legislation": "ukpga/1998/36",
  "legislation_title": "Finance Act 1998",
  "legislation_url": "https://openlegislation.uk/finance-act-1998",
  "path": "schedule/18/paragraph/41",
  "kind": "paragraph",
  "number": "41",
  "heading": null,
  "text": "(1) If an officer of Revenue and Customs discovers as regards an accounting period of a company that—\n(a) an amount which ought to have been assessed to tax has not been assessed, or\n(b) an assessment to tax is or has become insufficient, or\n(c) relief has been given which is or has become excessive,\nhe may make an assessment (a “discovery assessment\") in the amount or further amount which ought in his opinion to be charged in order to make good to the Crown the loss of tax.\n(2) If an officer of Revenue and Customs discovers that a company tax return delivered by a company for an accounting period incorrectly states—\n(a) an amount that affects, or may affect, the tax payable by that company for another accounting period, or\n(b) an amount that affects, or may affect, the tax liability of another company,\nhe may make a determination (a “discovery determination\") of the amount which in his opinion ought to have been stated in the return.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 18 substituted (18.4.2005) by Commissioners for Revenue and Customs Act 2005 (c. 11), s. 53(1), Sch. 4 para. 68(a); S.I. 2005/1126, art. 2(2)(h)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 18 substituted (18.4.2005) by virtue of Commissioners for Revenue and Customs Act 2005 (c. 11), s. 53(1), Sch. 4 para. 68(c); S.I. 2005/1126, art. 2(2)(h)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Sch. 18 para. 41(2)-44 applied (with modifications) (with effect in accordance with reg. 1(2) of the amending S.I.) by The Lloyds Underwriters (Tax) Regulations 2005 (S.I. 2005/3338), regs. 1(1), 7"
    }
  ],
  "outstanding_effects": [
    {
      "type": "omitted",
      "affecting": "ukpga/2024/3",
      "affecting_title": "Finance Act 2024"
    },
    {
      "type": "omitted",
      "affecting": "ukpga/2024/3",
      "affecting_title": "Finance Act 2024"
    },
    {
      "type": "omitted",
      "affecting": "ukpga/2024/3",
      "affecting_title": "Finance Act 2024"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1998/36/schedule/18/paragraph/41",
    "retrieved_at": "2026-10-29T09:22:30.566925+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}