Section 109B | Provisions for securing payment by company of outstanding tax

(1)Each of conditions A to D must be met before a company ceases to be resident in the United Kingdom, subject to subsection (5A).

(2)Condition A is that the company gives to the Commissioners for Her Majesty's Revenue and Customs notice of its intention to cease to be resident in the United Kingdom.

(3)Condition B is that the notice specifies the time (“the migration time”) when the company intends to cease to be resident in the United Kingdom.

(4)Condition C is that the company gives to the Commissioners—

(a)a statement of the amount which, in its opinion, is the amount of the tax which is or will be payable by it in respect of periods beginning before the migration time, and

(b)particulars of the arrangements which it proposes to make for securing the payment of that tax (which may include a proposal to enter into a CT exit charge payment plan in accordance with Schedule 3ZB).

(5)Condition D is that—

(a)arrangements are made by the company for securing the payment of the tax which is or will be payable by it in respect of periods beginning before the migration time, and

(b)those arrangements, as made by the company, are approved for the purposes of this subsection by the Commissioners.

(5A)Condition D does not apply to the extent that payment of the tax is to be secured by the company entering into a CT exit charge payment plan in accordance with Schedule 3ZB.

(6)If any question arises as to the amount which, for the purposes of subsection (5), should be regarded as the amount of tax which is or will be payable by the company in respect of periods beginning before the migration time, that question is to be referred to the tribunal.

(7)A decision of the tribunal under subsection (6) is final, despite sections 11 and 13 of the TCEA 2007 (appeals from tribunal decisions).

(8)If any information furnished by the company for the purpose of securing the Commissioners' approval under subsection (5) does not fully and accurately disclose all facts and considerations material for the Commissioners' decision under that subsection, any resulting approval is void.