Commentary

D7.333 Breach of conditions

Corporate tax
Corporate tax | Commentary

D7.333 Breach of conditions

Corporate tax | Commentary

D7.333 Breach of conditions

If any of the conditions detailed in D7.332 are breached, an investment trust must notify HMRC in writing as soon as possible specifying what, if any, steps are to be taken to rectify the breach1. A beach can either be a serious breach, a minor breach or a breach of the eligibility conditions (see D7.332).

Consequences of a breach

If the breach is a 'serious breach' and HMRC have given notice of this in writing to the company, specifying the exact serious breach, the investment trust is treated as a company which was not approved for the accounting period in which the serious

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