SCHEDULES

SCHEDULE 8Corporation tax exit charges

PART 1CT exit charge payment plans

3

1

Paragraph 4 (circumstances in which plan may be entered into: non-UK resident companies with UK permanent establishments) is amended as follows.

2

In subparagraph (4) (meaning of “PE qualifying event”)—

a

omit “and” at the end of paragraph (b), and

b

after paragraph (c) insert

, and

d

immediately after the event—

i

the asset or liability is held or owed by the company for the purposes of a permanent establishment of the company in a relevant EEA state, or

ii

the asset or liability is held or owed by the company otherwise than for the purposes of a permanent establishment of the company and the company is resident in a relevant EEA state.

3

In subparagraph (6)—

a

for “and” substitute “,”, and

b

after ““eligible company”” insert “and “relevant EEA state””.