Section 109C Penalty for company's failure to comply with section 109BF1

If a company ceases to be resident in the United Kingdom at a time before each of conditions A to D in section 109B is met, the company is liable to a penalty not exceeding the amount of tax—

(a)

which is or will be payable by it in respect of periods beginning before that time, and

(b)

which has not been paid at that time.

Annotations

Textual amendments

F1: Ss. 109B-109F and cross-heading inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 7 para. 54 (with Sch. 9 paras. 1-9, 22)

Notes on Part XI

Modifications

C1: Pt. XI modified (with effect in accordance with s. 117(4)(5) of the amending Act) by Finance Act 1998 (c. 36), Sch. 18 para. 39(2)(a) (with Sch. 18 para. 59(2)); S.I. 1998/3173, art. 2
C2: Pt. XI: power to apply conferred (with effect in accordance with s. 114(2) of the amending Act) by Finance Act 1999 (c. 16), Sch. 17 para. 17(b)