427 Information as to arrangements for transferring relief, etc

This section empowers the inspector to call for information where he/she has reason to believe that at any time material to a claim for group relief arrangements exist, or have existed —

• for varying an equity holder’s entitlement (section 417(3)),
• for switching a company from one group or consortium to another (section 424(3) or (4)),
• for a successor company to take over obligations under a leasing contract (section 425(1)(c)), or
• for certain payments by or to a company in a partnership (section 426(2)).

The inspector is empowered to serve notice on a company, in relation to matters within the scope of this Part, requiring the company to furnish within 30 days a declaration or other information to satisfy the inspector as to the existence or non-existence of arrangements whether in writing or not for the transfer of relief, etc.

The notice may be served on a company surrendering group relief as well as on the company claiming the relief.

The notice may be served on the partners in a partnership.

Relevant Date: Finance Act 2021