OT60050 | Transferable Tax History - TTH elections and directions relating to information and declarations the election must contain

TTH elections must contain the following information and details:

• The name and Unique Taxpayer Reference of the seller company

• The name and Unique Taxpayer Reference of the purchaser company

• The TTH asset licence interest and field

• The date of completion of the sale of the TTH asset

• The NSTA approval of the transfer of the licence interest

• For each accounting period included in the TTH election the amounts of:

  • Ring fence CT profits, tax rates applied and tax paid

  • Final taxable adjusted ring fence profits subject SC, tax rates applied and the tax paid

• A calculation of the TTH “cap”

• Extracts from the DSA that relate to the figures used in the calculation of the “cap”

• A copy of the seller’s Decommissioning Relief Deed, including Alternative Schedules

The election must also be signed by appropriately authorised officers of the companies concerned.