CTM34180 - Residence: outward company migration: penalties for non- compliance

If a company ceases to be resident without satisfying the requirement to give notice and to make arrangements, it is liable under FA88/S131 to a penalty up to the amount of its outstanding liabilities at the date of migration. The directors of the company and of its controlling companies and the controlling companies themselves may also each be liable to a similar penalty.

Report to CT&VAT, International CT, any case where a company has apparently ceased to be resident but has not given notice under FA88/S130.