S225 ICTA 1988 - applications for advance clearance

You will find help on company purchases of own shares in

• our Statement of Practice 2/82 (SP2/82) (PDF 1.2MB) and
• Tax Bulletin 21

These give guidance on the statutory provisions (particularly the "trade benefit" test and 5 year period of qualifying ownership and on the contents and lay-out of applications.

• Tax Bulletin 80 explains the effect of Tax & Civil Partnership Regulations 2005.

The law is at Section 219-229 ICTA 1988. Please refer to all of the conditions at S220 to S224 and to the definitions at S227 to S229.