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Say you file a SA tax return for an individual, on which there is reported a chargeable gain subject to a s.165 holdover relief claim.

Detailed computations of the gain, including the amount to be held over, are included in the tax return, which is filed by the normal due filing date.

However the joint holdover relief election on form HS295 is filed at a later date.  Much later, in fact: the election goes in after the expiry of the normal enquiry window into the original return.  No enquiry has been raised in the normal enquiry window.

Does the submission of the HS295 re-open the enquiry window, akin to a repair?  None of the figures have changed compared with those originally submitted.

Does it make a difference to the answer depending on whether the HS295 is filed within the repair window as contrasted with afterward?  The time limit for filing the election appears to be 4 years from the end of the year of assessment in which the gain is reported.

With kind regards

Clint Westwood

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