The Tax Information and Impact Note (TIIN) published yesterday referred to 'exit charges arising on or after 11 March 2012' and OOTLAR stated at paragraph 1.26 that 'the changes have effect from 11 December 2012'. The following paragraph clarifies the correct position.
From 11 December 2012, companies can apply for an exit charge payment plan to defer payment of that part of their corporation tax bills which relates to exit charges where the statutory date for payment of that tax under section 59D TMA 1970 has not already passed. This means that where a company has migrated from the UK on or after 11 March 2012, any tax related to exit charges for its final accounting period can be deferred. Whilst the application for deferral must generally be made within 9 months of the end of the accounting period for which the charges arise, companies have until 31 March 2013 to apply for deferral where that time limit falls between 11 December 2012 and 31 March 2013, in order to allow them time to make the necessary application.
The Chancellor of the Exchequer presented his Budget to Parliament today, 20 March 2013. From this page you can find all of the published Budget day documents.
An index of every document (PDF 38K) published on the HMRC Budget pages has also been provided in response to customer feedback.
Headline summaries of the main announcements which affect HMRC's customers and links to the relevant documents can be accessed through a choice of 8 links in the menu further down this page.
Additional publications relating to the Budget Report are available from the HM Treasury website (Opens new window) highlighting all the key points of how the Budget will affect you.
Over the coming weeks and months, updates and further information on Budget proposals, will be announced. These will all be available on our Budget - 20 March 2013 - Updates page, which can also be accessed from the left hand menu link.
One of the first entries on that page will be the publication of Finance Bill 2013 and its supporting documents on 28 March 2013.