Corporation Tax Act 2009 section 679

Decision on application for clearance

Section 679 sets out the process by which HMRC must notify an applicant of their decision on a clearance application to disapply the tax avoidance provisions relating to European cross-border transfers of business involving derivative contracts.

• HMRC must notify the applicant of their decision within 30 days of receiving the application, or within 30 days of any request for further information being complied with
• If HMRC refuse the application or fail to respond within the required timeframe, the applicant has 30 days to require the case to be referred to the tax tribunal
• A decision made by the tribunal carries the same legal weight as a decision made by HMRC
• Any clearance decision — whether made by HMRC or the tribunal — is void if the applicant did not fully and accurately disclose all material facts and considerations