Eloise Bunnetat provides a refresher guide to statutory and non-statutory clearances for company reorganisations
It is important to seek all the relevant clearances relating to company reorganisations to minimise risk to the company and its advisers.
Unnecessary delays to the transaction process should be avoided if the correct submission procedures are followed and if clear correct and relevant information is provided. Sufficient time for the clearance procedure should be built into the transaction project plan.
A number of clearance procedures are provided for in the legislation. Clearances under the following provisions should be sent in a single application to HMRC’s Clearance and Counteraction Team:
