Income and Corporation Taxes Act 1988

184 Independent accountants. U.K.

M1 (1) For the purposes of this Chapter, “independent accountant”, in relation to a profit-related pay scheme, means a person who—

(a) [F1 is eligible for appointment as a company auditor under section 25 of the Companies Act 1989][F2 or Article 28 of the Companies (Northern Ireland) Order 1990]; and

(b) is not excluded by subsections (2) to [F3 (4)] below.

(2) A person is not an independent accountant in relation to a profit-related pay scheme if—

(a) he is the employer of employees to whom the scheme relates; or

(b) he is a partner [F4 , or an officer] or an employee of, or partner of an employee of, a person within subsection (3) below; or

(c) he is [F5 a partner or]an employee of a person within paragraph (b) above.

(3) The persons within this subsection are—

(a) any person having employees to whom the scheme relates;

(b) any body corporate which is the subsidiary or holding company of a body corporate within paragraph (a) above or a subsidiary of such a body’s holding company.

(4) For the purposes of this section—

(a) an auditor of a company is not to be regarded as an [F6 officer or]employee of it; and

(b) “holding company” and “subsidiary” are to be construed in accordance with section 736 of the Companies Act 1985 or Article 4 of the Companies (Northern Ireland) Order 1986.

(5 )F7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6) [F8 For the purposes of this Chapter, “independent accountant”, in relation to a scheme, includes a Scottish firm all the partners of which are independent accountants in relation to the scheme.]

Textual Amendments

F1 Words in s. 184(1)(a) substituted by S.I. 1991/1997, reg. 68(a) (with reg. 4)

F2 Words in s. 184(1)(a) substituted (29.3.1993) by S.R. 1993/67, reg. 2, Sch. para.18

F3 Word in s. 184(1)(b) substituted by S.I. 1991/1997, reg. 68(b) (with reg. 4)

F4 Words in s. 184(2)(b) inserted by S.I. 1991/1997, reg. 68(c) (with reg. 4)

F5 Words in s. 184(2)(c) inserted by S.I. 1991/1997, reg. 68(d) (with reg. 4)

F6 Words in s. 184(4)(a) inserted by S.I. 1991/1997, reg. 68(e) (with reg. 4)

F7 S. 184(5) omitted by virtue of S.I. 1991/1997, reg. 68(f) ( with reg. 4)

F8 S. 184(6) repealed (E.W.S.) (23.5.1995) by The Companies Act 1989 Part II (Consequential Amendments) Regulations 1995 (S.I. 1995/1163), reg. 3

Marginal Citations

M1 Source—1987 (No.2) s.17