IFM14360 | Taxation of investment trusts: process and effects of entry into the investment trust regime: appeal against rejection or withdrawal of application

If HMRC rejects an application, the person who made the application can appeal (under regulation 11 of SI 2011/2999) by giving notice of appeal to HMRC within a period of 42 days beginning with the day on which the notice rejecting the application was given.

Appeals will be heard by the First-tier Tribunal who may either uphold or quash the rejection of the application.

If the tribunal quashes the rejection of the application, the company will be treated as having been approved in accordance with the application considered by the tribunal.