Part 8

Intangible fixed assets
Chapter 9

Application of this Part to groups of companies

Reallocation of degrouping charge within group and recovery

Recovery under section 795: procedure etc
797
1
A notice served under section 795(2) may require the payment of the amount required to be paid by the notice within 30 days of the service of the notice.
2
The notice must state—
a
the amount of the tax referable to the degrouping charge (within the meaning given in section 796(2)),
b
the amount of corporation tax assessed on A for the relevant accounting period that remains unpaid,
c
the date when it first became payable, and
d
the amount required to be paid by the person on whom the notice is served.
3
The notice has effect—
a
for the purposes of the recovery from that person of the amount required to be paid and of interest on that amount, and
b
for the purposes of appeals,
as if it were a notice of assessment and that amount were an amount of tax due from that person.
4
A person who has paid an amount required to be paid by a notice under section 795(2) may recover the amount paid from A.
5
A payment required to be made by such a notice is not allowed as a deduction in calculating any income, profits or losses for any tax purposes.
6
In this section “A” and “the relevant accounting period” have the same meaning as in section 795 (see section 795(1) and section 796(1) respectively).
Pt. 8 modified (1.1.2010) by Northern Rock plc (Tax Consequences) Regulations 2009 (S.I. 2009/3227), regs. 1, 6(1)
Pt. 8 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. 8 modified (1.10.2011) by Postal Services Act 2011 (c. 5), s. 93(2)(3), Sch. 2 para. 6(1); S.I. 2011/2329, art. 3
Pt. 8 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)
Pt. 8 modified (15.11.2011 for specified purposes, 30.3.2012 for E.W.) by Localism Act 2011 (c. 20), ss., 240(5)(o), Sch. 24 para. 1(3); S.I. 2012/628, art. 3(b)
Pt. 8 modified (6.4.2020) by Finance Act 2019 (c. 1), Sch. 5 paras. 35, 45 (with Sch. 5 para. 36)
Pt. 8 modified (1.4.2012) by Budget Responsibility and National Audit Act 2011 (c. 4), s. 29, Sch. 4 para. 3(1); S.I. 2011/2576, art. 5