Income and Corporation Taxes Act 1988 (c. 1)

PART XIX U.K. SUPPLEMENTAL

Interpretation U.K.

840 Meaning of “control” in certain contexts. U.K.

M1 For the purposes of, and subject to, the provisions of the [F1 Corporation Tax Acts] which apply this section, “control”, in relation to a body corporate, means the power of a person to secure—

(a) by means of the holding of shares or the possession of voting power in or in relation to that or any other body corporate; or

(b) by virtue of any powers conferred by the articles of association or other document regulating that or any other body corporate,

that the affairs of the first-mentioned body corporate are conducted in accordance with the wishes of that person, and, in relation to a partnership, means the right to a share of more than one-half of the assets, or of more than one-half of the income, of the partnership.

Textual Amendments

F1 Words in s. 840 substituted (6.4.2007 with effect in accordance with s. 1034(1) of the amending Act) by Income Tax Act 2007 (c. 3), Sch. 1 para. 224 (with Sch. 2)

Modifications etc. (not altering text)

C1 S. 840 applied by Finance Act 1988 (c. 39), s. 87(3)

S. 840 applied by Finance Act 1989 (c. 26), s. 67(3)

S. 840 applied by Capital Allowances Act 1990 (c. 1), s.77(6)

S. 840 applied (1.5.1995) by Finance Act 1995 (c. 4), Sch. 22 para. 17(6)(a)(ii)

S. 840 applied (29.4.1996) by Finance Act 1996 (c. 8), Sch. 9 para. 8(9)

S. 840 applied (1.2.2001) by Trustee Act 2000 (c. 29), ss. 19(3), 42(2); S.I. 2001/49, art. 2

S. 840 applied (29.7.2002) by Trustee Act (Northern Ireland) 2001 (c. 14), ss. 19(3), 45(1); S.R. 2002/253, art. 2

S. 840 applied by Taxation of Chargeable Gains Act 1992 (c. 12), Sch. 5AA para. 4(3) (as inserted (with effect in accordance with Sch. 9 para. 7 of the amending Act) by Finance Act 2002 (c. 23), Sch. 9 para. 3)

C2 S. 840 applied (23.1.2003 with effect in accordance with s. 57(4)(a) of the affecting Act) by Finance Act 2002 (c. 23), s. 57(3), Sch. 16 para. 14(3); S.I. 2003/88, art. 2

C3 S. 840 applied and extended (6.4.2003 with effect in accordance with s. 723(1) of the affecting Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), ss. 69, 719 (with Sch. 7)

C4 S. 840 applied (with effect in accordance with s. 77 of the affecting Act) by Finance Act 2004 (c. 12), s. 65(3)

C5 S. 840 applied (24.3.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), ss. 878(6), 883(3)(b)

C6 S. 840 applied by Finance Act 2003 (c. 14), s. 73AB(4) (as inserted (with effect in accordance with s. 155(4) of the amending Act) by Finance Act 2008 (c. 9), s. 155(3))

C7 S. 840 applied (1.4.2009 with effect in accordance with s. 1329(1) of the affecting Act) by Corporation Tax Act 2009 (c. 4), s. 1316(2) (with Sch. 2 Pts. 1, 2)

Marginal Citations

M1 Source—1970 s.534