Clearance letter—TCGA 1992, ss 138 and 139(5), ITA 2007, s 701 and CTA 2010, s 748
Clearance letter—TCGA 1992, ss 138 and 139(5), ITA 2007, s 701 and CTA 2010, s 748

The following Tax guidance note provides comprehensive and up to date legal information covering:

  • Clearance letter—TCGA 1992, ss 138 and 139(5), ITA 2007, s 701 and CTA 2010, s 748
  • Schedule 1
  • Schedule 2
  • Schedule 3
  • Schedule 4
  • Schedule 5

[Team Leader]

[insert HMRC address]

[insert date]

Application for clearances in advance under [section[s] 138[ and 139(5)] Taxation of Chargeable Gains Act 1992][ and ][section 701 Income Tax Act 2007[ and section 748 Corporation Tax Act 2010]]

  1. 1

    Introduction

    1. We act for [insert name of the target company] (Company A) [and on behalf of the shareholders in Company A]. We are writing to seek confirmation under:

    2. 1.1

      [section 138 Taxation of Chargeable Gains Act 1992 (TCGA 1992) that section 137 TCGA 1992 will not apply;]

    3. 1.2

      [section 139(5) TCGA 1992 that that subsection will not apply;]

    4. 1.3

      [section 701 Income Tax Act 2007 (ITA 2007) that no counteraction notice ought to be served under section 698 ITA 2007; and]

    5. 1.4

      [section 748 Corporation Tax Act 2010 (CTA 2010) that no counteraction notice ought to be served under section 746 CTA 2010;]

    6. in respect of the proposed transactions detailed in this letter (the Transactions).

  2. 2

    Details of Company A

    1. 2.1

      Company A is a company incorporated in [England and Wales OR [insert name of foreign jurisdiction]] (registered number [insert registered number]) on [insert date of