Commentary

V2.156 Registration transferred to the Isle of Man

Part V2 Registration – deregistration

V2.156 Registration transferred to the Isle of Man

V2.156 Registration transferred to the Isle of Man

HMRC may, at any time, determine that a person registered under the UK legislation is to be registered under the Isle of Man legislation if either1:

  1.  

    •     he has establishments in both the UK and the Isle of Man

  2.  

    •     he does not have an establishment in either country

The legislation provides that such a deregistration does not give rise to a deemed supply of assets on hand2 (for which see V3.261).

Where HMRC so determines, the person ceases to be registered under the UK legislation, or ceases to be required to be registered

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