C3C1C2Part 7Derivative contracts
Pt. 7 modified (with effect in accordance with s. 148 of the amending Act) by Finance Act 2012 (c. 14), s. 88(1)(2)(7) (with s. 147, Sch. 17)
Pt. 7 modified by 2007 c. 3, s. 809FZZ(8) (as inserted (with effect in accordance with s. 37(4) of the amending Act) by Finance Act 2016 (c. 24), s. 37(2))
Chapter 9European cross-border transfers of business
Exception for tax avoidance cases and clearances
679Decision on application for clearance
1
The Commissioners for Her Majesty's Revenue and Customs must notify their decision on an application under section 677(2) to the applicant—
a
within 30 days of receiving the application, or
b
if they give a notice under section 678(3), within 30 days of the notice being complied with.
2
If the Commissioners for Her Majesty's Revenue and Customs—
a
notify the applicant that they are not satisfied as mentioned in section 677(2)(b), or
b
do not notify their decision to the applicant within the time required by subsection (1),
the applicant may within 30 days of the notification or of that time require them to transmit the application to the tribunal, together with any notice given and further particulars provided under section 678(3).
3
In that case any notification by the tribunal has effect for the purposes of section 677(2)(b) as if it were a notification by the Commissioners for Her Majesty's Revenue and Customs.
4
If any particulars provided under section 678 do not fully and accurately disclose all facts and considerations material for the decision—
a
of the Commissioners for Her Majesty's Revenue and Customs, or
b
of the tribunal,
any resulting notification by the Commissioners for Her Majesty's Revenue and Customs or the tribunal is void.
Pt. 7 modified (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), ss. 601, 1184(1) (with Sch. 2)