The change to time limits on claims extends to most elections and claims relating to self assessment tax returns where the current period is five years and ten months.  This time limit will become four years for all claims submitted after 31 March 2010.  Examples are error or mistake claims, entitlement to or transfer of the married couple’s allowance or blind person’s allowance; relief for capital losses and for loans to traders.

Time limits for companies which are currently six years will change to four years from the end of the accounting period with effect from 1 April 2010.

Posted on 23 Feb 2010