OT60050 - Transferable Tax History - TTH elections and directions relating to information and declarations the election must contain

TTH elections must contain the following information and details:

  • The name and Unique Taxpayer Reference of the seller company
  • The name and Unique Taxpayer Reference of the purchaser company
  • The TTH asset licence interest and field
  • The date of completion of the sale of the TTH asset
  • The NSTA approval of the transfer of the licence interest
  • For each accounting period included in the TTH election the amounts of:
    • Ring fence CT profits, tax rates applied and tax paid
    • Final taxable adjusted ring fence profits subject SC, tax rates applied and the tax paid
  • A calculation of the TTH “cap”
  • Extracts from the DSA that relate to the figures used in the calculation of the “cap”
  • A copy of the seller’s Decommissioning Relief Deed, including Alternative Schedules

The election must also be signed by appropriately authorised officers of the companies concerned.