Corporation Tax Act 2009 section 832

Procedure on application for clearance

Section 832 sets out the procedural requirements for making a clearance application to HMRC in connection with the transfer of a business or trade involving intangible fixed assets.

• The clearance application must be made in writing and include full particulars of the planned operations
• HMRC may request further particulars, but must do so within 30 days of receiving the application or any previously requested additional information
• The applicant must respond to any request for further particulars within 30 days, unless HMRC allows a longer period
• If the applicant fails to provide the requested information within the permitted timeframe, HMRC is not obliged to continue processing the application