Statutory clearances

Produced by a Tolley Corporation Tax expert

Corporation Tax

Guidance

Available statutory clearances

A number of clearance procedures are provided for in the legislation. Only some of these are dealt with regularly by tax advisers and so it is only these most common clearance procedures that are covered in more detail below. A full list of the statutory provisions where advance clearance can be applied for can be found on the GOV.UK website.

Clearances under the following provisions should be sent in a single application to HMRC’s Clearance and Counteraction Team. Market sensitive clearance applications should be marked for the attention of the ‘Team Leader’.

Please click on the links where indicated for further guidance on drafting the relevant clearances:

CTA 2010, s 1091	Demergers	See the Demerger clearances guidance note
CTA 2010, s 1044	Purchase of own shares	See the Purchase of own shares clearances and reporting guidance note
ITA 2007, s 247(1)(f)	EIS shares ― acquisition by new company	See the Enterprise investment scheme deferral relief and Gain deferred through EIS becomes chargeable guidance notes
CTA 2010, s 748 / ITA 2007,

Access this article and thousands of others like it
free for 7 days with a trial of Tolley+™ Guidance.

TAKE A FREE TRIAL

Popular Articles

Trusts and Inheritance Tax

Outright gifts

Outright giftsAn outright gift is the most straightforward type of gift. It simply involves the outright transfer of property from one person to another with no conditions attached.This type of gift is most suitable for clients who want to pass over modest amounts, or give to responsible and capable

14 Jul 2020 12:22 | Produced by Tolley in association with Emma Haley at Boodle Hatfield LLP Read more

Employment Tax

Loans written off

Loans written offCompanies sometimes provide directors, employees or shareholders with low interest or interest-free loans either as part of the reward package or on special occasions to help the individual meet significant expenditure. The employment income implications of these loans are discussed

14 Jul 2020 12:11 | Produced by Tolley Read more

Employment Tax

Non-business expenses

Non-business expensesIntroductionIn order for an expense to be tax deductible it must be incurred because of an employee’s employment. Any non-business related expense is, therefore, not relievable except in some very particular circumstances.This guidance note deals with three separate issues. The

14 Jul 2020 12:16 | Produced by Tolley Read more

��Ƶ