Taxes Management Act 1970

[F1 59FA [F2 CT exit charge payment plans] U.K.

(1) Schedule 3ZB contains provisions about [F2 CT exit charge payment plans] in accordance with which companies may defer payment of certain corporation tax.

(2) Parts 1 and 2 of the Schedule each make provision about the circumstances in which [F3 a CT exit charge payment plan] may be entered into, and about determining the amount of corporation tax that may be deferred—

(a) see Part 1 in relation to a company which ceases to be resident in the United Kingdom, and

(b) see Part 2 in relation to a company which is not resident in the United Kingdom but which carries on, or has carried on, a trade in the United Kingdom through a permanent establishment there.

(3) Part 3 of the Schedule contains provision about—

(a) entering into [F3 a CT exit charge payment plan],

(b) the effect of such a plan,

(c) the content of such a plan, and

(d) the methods in accordance with which tax deferred under such a plan may be paid.]

Textual Amendments

F1 S. 59FA inserted (with effect in accordance with Sch. 49 para. 8 of the amending Act) by Finance Act 2013 (c. 29), Sch. 49 para. 2

F2 Words in s. 59FA substituted (12.2.2019) by Finance Act 2019 (c. 1), Sch. 7 para. 6(1)(c)

F3 Words in s. 59FA substituted (12.2.2019) by Finance Act 2019 (c. 1), Sch. 7 para. 6(1)(a)