The following Owner-Managed Businesses guidance note by Tolley provides comprehensive and up to date tax information covering:
The guidance below 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 Drafting clearance applications guidance note.
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:
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