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HMRC internal manual

Company Taxation Manual

Residence: outward company migration: before 15 March 1988

Before 15 March 1988, Treasury consent under ICTA88/S765 (1)(a) was needed for a body corporate to cease to be resident in the UK, or to transfer a trade (CTM34300 onwards). ICTA88/765 (1) (a) and (b) were repealed by FA88/SCH14/PART4.

A body corporate ceased to be resident if it transferred the central management and control of its business outside the UK.