SCHEDULE 7 Miscellaneous Relocations | Part 10 | Relocation Of Sections 130 To 132 Of FA 1988 | Taxation International And Other Provisions Act 2010 C8

Part 10 Relocation of Sections 130 to 132 of FA 1988

Taxation (International and Other Provisions) Act 2010 (2010 c 8) | Legislation

Part 10 Relocation of Sections 130 to 132 of FA 1988

Taxes Management Act 1970 (c 9)

TMA 1970 is amended as follows.

After section 109A insert—

“Companies ceasing to be UK resident

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.

(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.

(5) Condition D is that—

(a) arrangements are made by the