CFM72675 - Other tax rules on corporate finance: securitisation: periods beginning on or after 1 January 2018: the regulations: modifications to certain tax rules: recovery of unpaid corporation tax
SI2006/3296: regulation 23
Recovery of unpaid corporation tax
The rules in CTA10/PT14/CH6, sometimes referred to as 바카라 사이트˜secondary liability바카라 사이트™ legislation, counter schemes which attempt to avoid the payment of corporation tax following a change in the ownership of a company. In such cases, an officer of Revenue and Customs can make an assessment to recover the unpaid Corporation Tax from the persons who previously controlled the company or, alternatively, other companies under their control. See CTM06505 for guidance on the potential application of these rules.
Regulation 23, which was inserted by The Taxation of Securitisation Companies (Amendment) Regulations 2018 (SI2018/143), for a periods of account beginning on or after 1 January 2018, provides that a securitisation company taxed under the regime will not be liable for the unpaid Corporation Tax of other 바카라 사이트˜linked바카라 사이트™ companies (companies under common control) as a result of CTA10/PT14/CH6.
The rules in CTA10/PT14/CH6 continue to apply to companies outside the securitisation regime that have transactions with a securitisation company.