Demerger clearances

Produced by a Tolley Corporation Tax expert

Corporation Tax

Guidance

This guidance note contains specific comments on clearance applications as they refer to non-statutory and statutory demergers, and should be read in conjunction with the general guidance on drafting clearance applications in the HMRC clearance applications ― overview guidance note.

For overall guidance on demergers, including choice of the most appropriate route and planning the demerger project, see the Demergers ― overview guidance note.

Non-statutory demergers - clearance

A non-statutory demerger may involve several steps in order to achieve the desired result. These will differ depending on the circumstances but typically will require clearance under the following provisions:

•
TCGA 1992, s 139 (reconstruction relief for corporate capital gains)
•
TCGA 1992, s 138 (reconstruction relief from capital gains tax for shareholders under TCGA 1992, s 136)
•
CTA 2009, s 831(2) and CTA 2009, s 832 (intangibles reconstruction relief)
•
ITA 2007, s 701 (transactions in securities)

The clearance

Continue reading

To read the full Guidance note, register for a free trial of Tolley+™

TAKE A FREE TRIAL

Popular Articles

Personal Tax

Income tax losses ― overview

Income tax losses ― overviewIncome tax losses can arise due to a number of reasons, but not all losses can be relieved against total income and some losses can only be set against certain types of component income. The table below is a summary of the main reliefs for income tax losses.Summary of

04 Mar 2021 12:19 | Produced by Tolley Read more

Trusts and Inheritance Tax

Corrections and amendments to the IHT account

Corrections and amendments to the IHT accountThis guidance note explains how to deal with changes to the taxable values in the original inheritance tax account.Why do amendments arise?When the IHT account is first submitted to HMRC, it is based on information available at an early stage of the

14 Jul 2020 11:20 | Produced by Tolley Read more

Value Added Tax

VAT registration ― artificial separation of business activities (disaggregation)

VAT registration ― artificial separation of business activities (disaggregation)This guidance note should be read in conjunction with the VAT registration ― compulsory guidance note and is relevant to persons established or resident in the UK. Persons that are not established or resident in the UK

14 Jul 2020 13:57 | Produced by Tolley Read more

��˾��ҹ��