C1C2PART XI MISCELLANEOUS AND SUPPLEMENTAL

Annotations:
Modifications etc. (not altering text)
C1

Pt. XI modified (with effect in accordance with s. 117(4)(5) of the amending Act) by Finance Act 1998 (c. 36), Sch. 18 para. 39(2)(a) (with Sch. 18 para. 59(2)); S.I. 1998/3173, art. 2

C2

Pt. XI: power to apply conferred (with effect in accordance with s. 114(2) of the amending Act) by Finance Act 1999 (c. 16), Sch. 17 para. 17(b)

F1Companies ceasing to be UK resident

Annotations:
Amendments (Textual)
F1

Ss. 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)

109BProvisions for securing payment by company of outstanding tax

1

Each of conditions A to D must be met before a company ceases to be resident in the United KingdomF2, 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 F5a 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.

F45A

Condition D does not apply to the extent that payment of the tax is to be secured by the company entering into F5a 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.