Statutory clearances

Produced by Tolley

The following Corporation Tax guidance note Produced by Tolley provides comprehensive and up to date tax information covering:

  • Statutory clearances
  • Available statutory clearances
  • Background
  • Proposed transaction
  • Commercial background
  • Clearances sought
  • Sending the clearance
  • Appeals against refusal of statutory clearances

Statutory clearances

Available statutory clearances

A number of clearance procedures are provided for in the legislation. Only some of these are dealt with regularly by tax advisers and so it is only these most common clearance procedures that are covered in more detail below. A full list of the statutory provisions where advance clearance can be applied for can be found on the GOV.UK website.

Clearances under the following provisions should be sent in a single application to HMRC’s Clearance and Counteraction Team.

Please click on the links where indicated for further guidance on drafting the relevant clearances:

CTA 2010, s 1091DemergersSee the Demerger clearances guidance note
CTA 2010, s 1044Purchase of own sharesSee the Purchase of own shares clearances and reporting guidance note
ITA 2007, s 247(1)(f)EIS shares ― acquisition by new companySee the Enterprise investment scheme deferral relief and Gain deferred through EIS becomes chargeable guidance notes
CTA 2010, s 748 / ITA 2007, s 701Transactions in securitiesSee the Transactions in securities clearances guidance note
TCGA 1992, s 138(1)Share exchangesSee the Paper for paper treatment clearances guidance note
TCGA 1992, s 139(5)Reconstructions involv

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