Paragraph 7

United Kingdom

(1)

This paragraph applies where the filing member of a multinational group has registered under paragraph 6.

(2)

An officer of Revenue and Customs may issue the filing member with a notice of de-registration in relation to the registration.

(3)

The effect of an officer issuing a notice of de-registration is that, beginning with the effective date, the registration to which the notice relates is not to be treated as a registration under paragraph 6.

(4)

“The effective date” is a date specified in or determined by reference to the notice as the date on which the notice takes effect.

(5)

But a notice of de-registration does not affect the validity of a registration for the purposes of any obligation arising before the effective date.

(6)

An officer F1of Revenue and Customs may issue a notice of de-registration only if—

(a)

the filing member has applied for such a notice, and

(b)

it appears to the officer that the group will not be a qualifying multinational group for any accounting period beginning with the period in which the effective date falls.

Annotations

Textual amendments

F1: Words in Sch. 14 para. 7(6) substituted (with effect in accordance with Sch. 4 para. 72(4) of the amending Act) by Finance Act 2025 (c. 8), Sch. 4 paras. 70(b), 72(4)