[SCHEDULE 3ZAA CGT Exit Charge Payment Plans]
Taxes Management Act 1970 (1970 c 9) | Legislation

[SCHEDULE 3ZAA CGT Exit Charge Payment Plans]

[Section 59BB]

[Introduction

1

(1)     This Schedule makes provision for certain persons who are liable to pay an exit charge under section 25 or 80 of the 1992 Act to agree with HMRC to pay the charge in instalments.

(2)     An agreement under this Schedule is called a “CGT exit charge payment planâ€.

Eligibility

2

(1)     This paragraph applies where a person resident in an EEA state outside the United Kingdom is liable to pay an exit charge for a tax year by virtue of section 25(1) or (3) of the 1992 Act (deemed disposals by non-residents).

(2)     The person is eligible to enter into a CGT exit charge payment plan in relation to any one or more of the assets to which the exit charge relates if—

(a)     at the time of the event giving rise to the exit charge, the person had a right to freedom of establishment, or

(b)     at any time after that event, the person carries on a trade in an EEA state other than the United Kingdom through a branch or agency and the asset or assets is or are—

(i)

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