Part 2 Reporting Requirement
Finance Act 2009 (2009 c 10) | Legislation

Part 2 Reporting Requirement

Reporting requirement

4

(1)     If a UK corporate parent is a reporting body at the time a reportable event takes place or a reportable transaction is carried out, it must, within 6 months of that time, make a report to an officer of Revenue and Customs.

(2)     The report must contain such information relating to the event or transaction, or persons connected with the event or transaction, as is specified in regulations made by the Commissioners.

(3)     The purpose of the report is to enable the Commissioners to consider whether the event or transaction results, directly or indirectly, in an advantage for any person in respect of corporation tax or any other tax or duty.

(4)     In this Schedule “the Commissioners†means the Commissioners for Her Majesty's Revenue and Customs.

Meaning of “reporting bodyâ€

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(1)     For the purposes of this Schedule a body corporate (“body Aâ€) is a reporting body at any time if, at that time—

(a)     it is a UK corporate parent, and

(b)     condition A, B, C or D is met.

(2)     Condition A is that body A is not controlled by a body corporate resident outside the United

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