Advance HMRC clearance procedure

HMRC operate an integrated process for handling statutory advance clearance applications under the following provisions:

(1)an exchange of securities for those in another company under TCGA 1992, s. 135 (¶762-200);

(2)a scheme of reconstruction involving issue of securities under TCGA 1992, s. 136;

(3)a reconstruction involving transfer of business under TCGA 1992, s. 139;

(4)statutory demergers under CTA 2010, s. 1091 (¶762-400);

(5)company purchase of own shares under CTA 2010, s. 1044 (¶762-100ff.); and

(6)the transactions in securities anti-avoidance legislation under CTA 2010, s. 748 (¶763-400) or ITA 2007, s. 701 (¶763-000).

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