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Finance Act 1998

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Changes over time for: Cross Heading: Connected persons: directors

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Version Superseded: 11/05/2001

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Point in time view as at 28/07/2000.

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There are currently no known outstanding effects for the Finance Act 1998, Cross Heading: Connected persons: directors. Help about Changes to Legislation

Connected persons: directorsU.K.

7(1)In subsection (1)(a) of section 291A of the Taxes Act 1988, for the words “the relevant period" there shall be substituted the words “ the seven year period ”.

(2)In subsection (5) of that section—

(a)for sub-paragraph (ii) of paragraph (b) there shall be substituted the following sub-paragraph—

(ii)involved in carrying on (whether on his own account or as a partner, director or employee) the whole or any part of the trade carried on by the issuing company or a subsidiary, and; and

(b)the words “and the reference to a trade previously carried on includes part of such a trade" shall cease to have effect.

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