Part 23Company distributions
Chapter 5Demergers
Advance clearance
1091Advance clearance of distributions
1
Before a distribution is made, the distributing company may apply under this section to the Commissioners for Her Majesty's Revenue and Customs (“the Commissioners”).
2
If, before the distribution is made, the Commissioners notify that company that they are satisfied that it will be an exempt distribution, the distribution is treated as an exempt distribution.