The Corporation Tax (Notice of Coming within Charge — Information) Regulations 2004

Statutory Instruments

2004 No. 2502

INCOME TAX

The Corporation Tax (Notice of Coming within Charge — Information) Regulations 2004

Made

22nd September 2004

Laid before the House of Commons

22nd September 2004

Coming into force

13th October 2004

The Commissioners of Inland Revenue, in exercise of the powers conferred upon them by section 55(2)(c), (3) and (5) of the Finance Act 2004(1), make the following Regulations:

Citation, commencement and interpretation

1.—(1) These Regulations may be cited as the Corporation Tax (Notice of Coming within Charge — Information) Regulations 2004 and shall come into force on 13th October 2004.

(2) In these Regulations—

“the section” means section 55 of the Finance Act 2004; and

a reference, without more, to a numbered subsection is a reference to the subsection of the section which is so numbered.

Information prescribed for the purposes of section 55(2)(c) of the Finance Act 2004

2.—(1) For the purposes of subsection (2)(c) the information specified in the following paragraphs of this regulation is prescribed.

(2) In the case of the company’s accounting period falling within either paragraph (a) or (b) of subsection (1), the prescribed information is the date on which that accounting period commenced (within the meaning of section 12(2) of the Income and Corporation Taxes Act 1988(2)), together with the information in paragraph (3).

(3) The information to be given in respect of any company to which the section applies is—

(a) the company’s name and its registered number;

(b) the address of the company’s registered office;

(c) the address of the company’s principal place of business;

(d) the nature of the business being carried on by the company;

(e) the date to which the company intends to prepare accounts;

(f) the full name and home address of each of the directors of the company;

(g) if the company has taken over any business, including any trade, profession or vocation formerly carried on by another—

(i) the name and address of that former business; and

(ii) the name and address of the person from whom the business was acquired;

(h) if the company is deemed, by virtue of section 413(3) of the Income and Corporation Taxes Act 1988, to be a member of a group of companies for the purposes of Chapter 4 of Part 10 of that Act, the name of the parent company and the address of its registered office; and

(i) in the case of a company which, at the time it gives notice under the section, has been obliged to comply with the requirements of the Income Tax (Pay as You Earn) Regulations 2003(3), the date on which that obligation first arose.

Ann Chant

Helen Ghosh

Two of the Commissioners of Inland Revenue

22nd September 2004

Explanatory Note

(This note is not part of the Regulations)

These Regulations prescribe the information which a company is required to give under section 55(2)(c) of the Finance Act 2004. They apply to accounting period beginning on or after 22nd July 2004.

Regulation 1 provides for the citation and commencement of the Regulations and defines certain expressions used in them.

Regulation 2 prescribes the information to be given under section 55(2)(c).

It is anticipated that these Regulations will have a negligible effect on business costs, and accordingly no regulatory impact assessment has been prepared.

(1)

2004 c. 12. Subsection (3) is cited because of the meaning ascribed to “prescribed” and subsection (5) because of the meaning ascribed to “the Board”. Subsection (7) provides that the section has effect in relation to accounting periods beginning on or after the day on which the Finance Act 2004 was passed (22nd July 2004).

(2)

1988 c. 1.

(3)

S.I. 2003/2682.