SCHEDULES
SCHEDULE 15Oil activities: transferable tax history
PART 8TTH elections: conditions and procedure
Timing of an enquiry: cases where the corporate restructuring condition is met
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1
This paragraph applies if—
a
a TTH election is made, and
b
the corporate restructuring condition or the hive down condition is met in relation to that election.
2
Paragraph 5(2)(a) of Schedule 1A to TMA 1970 (power to enquire into claims: time limits) has effect in relation to the election as if the reference in that provision to the day on which the claim was made were a reference to—
a
in a case where the corporate restructuring condition is met by reference to paragraph 56(2)(b)(i), the day on which the third party election was made;
b
in a case where the corporate restructuring condition is met by reference to paragraph 56(2)(b)(ii), the day on which the seller and purchaser cease to be associated with one another;
c
in a case where the hive down condition is met, the day on which the seller and the purchaser ceased to be associated with one another.