[Part 2 Non-UK Resident Companies with UK Permanent Establishments]
Taxes Management Act 1970 (1970 c 9) | Legislation

[Part 2 Non-UK Resident Companies with UK Permanent Establishments]

[Circumstances in which [CT exit charge payment plan] may be entered into

4

(1)     This Part of this Schedule and Part 3 of this Schedule apply where—

(a)     at any time during an accounting period (“the migration accounting periodâ€) an eligible company which is not resident in the United Kingdom carries on a trade in the United Kingdom through a permanent establishment there,

(b)     one or more PE qualifying events occurs in respect of any assets or liabilities of the company as mentioned in sub-paragraph (4), and

(c)     the company is liable to pay qualifying corporation tax in respect of the migration accounting period.

(2)     The company may defer payment of some or all of the qualifying corporation tax if it enters into [a CT exit charge payment plan] in respect of it in accordance with this Schedule.

(3)     The company may enter into [a CT exit charge payment plan] only if before the end of the period of 9 months beginning immediately after the migration accounting period—

(a)     an application to enter into the [CT exit charge payment plan] is made to Her Majesty's Revenue and Customs, and

(b)

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