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Corporation Tax Act 2010

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Changes over time for: Section 1092

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Point in time view as at 01/04/2010.

Changes to legislation:

Corporation Tax Act 2010, Section 1092 is up to date with all changes known to be in force on or before 12 June 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

1092Advance clearance of paymentsU.K.
This section has no associated Explanatory Notes

(1)If—

(a)a person intending to make a payment applies under this section to the Commissioners, and

(b)before the payment is made the Commissioners notify the person that they are satisfied that the payment meets the conditions set out in subsection (2),

the payment is not treated as a chargeable payment.

(2)The conditions are that the payment—

(a)will be made for genuine commercial reasons, and

(b)will not form part of a scheme or arrangement the main purpose or one of the main purposes of which is the avoidance of tax.

(3)In subsection (2) “tax” includes stamp duty and stamp duty land tax.

(4)A company which—

(a)becomes connected with another company, or

(b)ceases to be connected with another company,

may make an application under subsection (1) with respect to any payments that may be made by it at any time after becoming or ceasing to be connected with the company in question (whether or not there is any present intention to make any payments).

(5)If the Commissioners give a notification on an application made by virtue of subsection (4), no payment to which the notification relates is to be treated as a chargeable payment merely because the company is or has been connected with the other company.

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