I have recently received approval from HMRC for a share reorg which includes loan notes etc following a tax clearance application. The expected date for the transaction was this month but it is now expected to be delayed by six months, and the consideration will also be different. Should I send in an amended clearance letter? Are there any potential issues here?
The transaction is basically a management buy out.
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Unless the final transaction is different from that for which clearance has been granted I wouldn't reapply. For example, just changing the quantum of the consideration shouldn't matter. If the form of the consideration has changed then it would matter.
Agreed - if the facts are different in any way at all the original clearance cannot be relied upon.