HMRC guidance issued on 22 July 2006 (available at sets out an informal procedure for giving advice about the application of TCGA 1992, s. 184G and 184H (see ¶761-800).

A company may apply for clearance in respect of actual transactions or proposed transactions. It should give a full account of all relevant facts, and HMRC may request more information from the company to allow them to reach a decision.

HMRC will try to deal with clearance applications within 30 days of receipt of all the relevant information, or more quickly where the company needs clearance by a specific date.

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