Revenue Note for Guidance
(1) Where an inspector discovers that an incorrect or excessive tax credit has been paid, the inspector may make an assessment to recover the excess.
(2) The normal assessment (this Part), collection (Part 42) and appeal (Part 40A) procedures apply in relation to such an assessment as if it were an assessment to income tax for the year of assessment for which the payment was claimed (or, in the case of a company, an assessment to corporation tax for the accounting period for which the payment was claimed). Once the assessment is not appealed, any sum charged is due within 14 days of the notice of assessment.
Relevant Date: Finance Act 2021