Gerry Surtees Chartered Tax Adviser

When working with clients on transactions it is sometimes necessary to get clearance from HMRC before you can proceed from their Clearance and Counteraction Team. Recently, we assisted a client who found themselves in this situation. 

The issue

The client wanted to create and insert a new holding company into their current business structure to protect cash reserves, but they ran into an unforeseen issue. The advisers they had appointed to deal with the transaction lacked the experience and knowledge to clear such a thing with HMRC.

They advised the client that the only way to achieve their desired outcome was to set up another trading company and split the trade across the two companies - a laborious and time-consuming process, further complicated by the fact that to structure the transaction in this way would mean it would not qualify for stamp duty relief, and significantly increase the cost of the transaction.

The solution

Enter Gerry Surtees, one of our tax specialists. Gerry and the team have extensive experience of creating such companies, and he was confident that the team here at Oldfield could help and deliver on the clients wishes. 

Gerry and the team are seeing more and more companies go down this route, and they have developed tried and tested processes which provide HMRC with all of the information required in a clear and concise way, ensuring minimal queries (if any) and the swift clearance of transactions. 

In this particular case, because of the processes in place, and the upfront way in which the case was presented to HMRC, clearance was granted within 2 weeks, delivering on the clients request and ensuring zero stamp duty into the bargain. 


Changing the structure of your business is complicated and you should always work with advisers who have extensive experience – especially where clearance from HMRC will be required. 

Don’t be afraid to ask questions on their methods and the number of clearances granted versus those refused – this will give you an indication of whether the processes and methods they employ are sufficient.

The team here are more than happy to run through the process with you and help you navigate your way through. For more information on how we can help you and your business, please email us at or call 02476673160.

Please note: This article is provided for information only and was correct as at time of writing (25/04/22). Any lists and details provided above are not exhaustive and are not intended to be full and complete guidance.  No action should be taken without consulting detailed legislation or seeking independent professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the material contained in this article can be accepted.