- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (14/09/2023)
- Gwreiddiol (Fel y'i Deddfwyd)
Point in time view as at 14/09/2023.
Taxes Management Act 1970, Section 109B is up to date with all changes known to be in force on or before 03 September 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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(1)Each of conditions A to D must be met before a company ceases to be resident in the United Kingdom[F2, subject to subsection (5A).]
(2)Condition A is that the company gives to the Commissioners for Her Majesty's Revenue and Customs notice of its intention to cease to be resident in the United Kingdom.
(3)Condition B is that the notice specifies the time (“the migration time”) when the company intends to cease to be resident in the United Kingdom.
(4)Condition C is that the company gives to the Commissioners—
(a)a statement of the amount which, in its opinion, is the amount of the tax which is or will be payable by it in respect of periods beginning before the migration time, and
(b)particulars of the arrangements which it proposes to make for securing the payment of that tax [F3(which may include a proposal to enter into [F4a CT exit charge payment plan] in accordance with Schedule 3ZB).]
(5)Condition D is that—
(a)arrangements are made by the company for securing the payment of the tax which is or will be payable by it in respect of periods beginning before the migration time, and
(b)those arrangements, as made by the company, are approved for the purposes of this subsection by the Commissioners.
[F5(5A)Condition D does not apply to the extent that payment of the tax is to be secured by the company entering into [F4a CT exit charge payment plan] in accordance with Schedule 3ZB.]
(6)If any question arises as to the amount which, for the purposes of subsection (5), should be regarded as the amount of tax which is or will be payable by the company in respect of periods beginning before the migration time, that question is to be referred to the tribunal.
(7)A decision of the tribunal under subsection (6) is final, despite sections 11 and 13 of the TCEA 2007 (appeals from tribunal decisions).
(8)If any information furnished by the company for the purpose of securing the Commissioners' approval under subsection (5) does not fully and accurately disclose all facts and considerations material for the Commissioners' decision under that subsection, any resulting approval is void.]
Textual Amendments
F1Ss. 109B-109F and cross-heading inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 7 para. 54 (with Sch. 9 paras. 1-9, 22)
F2Words in s. 109B(1) inserted (with effect in accordance with Sch. 49 para. 8 of the amending Act) by Finance Act 2013 (c. 29), Sch. 49 para. 4(2)
F3Words in s. 109B(4)(b) inserted (with effect in accordance with Sch. 49 para. 8 of the amending Act) by Finance Act 2013 (c. 29), Sch. 49 para. 4(3)
F4Words in s. 109B substituted (12.2.2019) by Finance Act 2019 (c. 1), Sch. 7 para. 6(1)(a)
F5S. 109B(5A) inserted (with effect in accordance with Sch. 49 para. 8 of the amending Act) by Finance Act 2013 (c. 29), Sch. 49 para. 4(4)
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