PART 1Income Tax, Corporation Tax and Capital Gains Tax

CHAPTER 5Other provisions

Disincorporation

60Making a claim

1

A claim for disincorporation relief under section 58—

a

is to be made jointly by the company and all of the shareholders to whom the business is transferred, and

b

is irrevocable.

2

Any claim for disincorporation relief must be made within the period of 2 years beginning with the business transfer date.