Commentary

D6.424 Exempt demerger—returns and information

Corporate tax
Corporate tax | Commentary

D6.424 Exempt demerger—returns and information

Corporate tax | Commentary

D6.424 Exempt demerger—returns and information

Where a company carries out a demerger, additional compliance obligations are triggered in connection with any exempt distribution and any chargeable payments.

Exempt distribution—compliance obligations

When a company makes an exempt distribution, a return must be made to HMRC notifying it that the distribution has been made giving details of1:

  1.  

    •     the distribution, and

  2.  

    •     the circumstances which cause it to be exempt

Where an exempt distribution has been granted clearance and the distribution is strictly in accordance with the clearance application then it will be sufficient to refer to the notification2.

Chargeable payments—compliance obligations

Where

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial