The Corporation Tax (Financing Costs and Income) Regulations 2009

Revocation of appointment on a company becoming or ceasing to be a company to which Part 4 of Schedule 15 applies

24.—(1) An appointment under paragraph 29 of Schedule 15 ceases to have effect if a company becomes or ceases to be a company to which Part 4 of Schedule 15 applies.

(2) The appointment ceases to have effect in relation to the relevant period of account in which the company becomes or ceases to be a company to which Part 4 of Schedule 15 applies and subsequent periods of account.

(3) But paragraph (1) does not apply if within three months of a company becoming or ceasing to be a company to which Part 4 of Schedule 15 applies, the reporting body notifies an officer of Revenue and Customs at the tax office that deals with its corporation tax affairs of the change.

(4) A notification under paragraph (3) must—

(a) be in writing, and

(b) specify the name and the tax office reference of the company that has become or ceased to be a company to which Part 4 of Schedule 15 applies.

(5) Where a new company has become a company to which Part 4 of Schedule 15 applies the notification must be accompanied by a statement by that company—

(a) that the company appointed under paragraph 29 of Schedule 15 will act on its behalf for all relevant periods of account for which the appointment has effect;

(b) that no application will be made to amend a financing income amount specified under paragraph 33(4)(b) of Schedule 15 other than through a revised statement submitted by the reporting body in accordance with paragraph 20 of Schedule 15;

(c) agreeing to be bound by a statement of allocated exemptions or a revised statement delivered by the reporting body.