C1C2F1Part 7AEmployment income provided through third parties
Pt. 7A modified (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), Sch. 11 para. 35(6)
Pt. 7A modified (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), Sch. 11 para. 1(8)
C1C2CHAPTER 1Application etc
F2Application: close companies
Ss. 554AA-554AF and cross-heading inserted (with effect in accordance with Sch. 1 para. 14 of the amending Act) by Finance Act 2018 (c. 3), Sch. 1 para. 2
554AESection 554AA: meaning of “material interest”
1
Section 68 (meaning of “material interest” in a company) applies for the purposes of section 554AA and, subject to subsection (2), does so as it applies for the purposes of the benefits code.
2
In section 68 as it applies for the purposes of section 554AA—
a
each of the following is to be treated as “an associate” of A—
i
a person (“the promoter”) who, for the purposes of Part 5 of FA 2014, is carrying on business as a promoter in relation to the relevant arrangement, and
ii
where the promoter is a company, any company which is an associated company of the promoter;
b
“participator”—
i
in relation to a close company, means a person who is a participator in relation to the company for the purposes of section 455 of CTA 2010 (see sections 454 and 455(5) of that Act), and
ii
in relation to a company which would be a close company if it were a UK resident company, means a person who would be such a participator if the company were a close company.
3
In subsection (2)(a)(ii) “associated company” has the same meaning as it has for the purposes of Part 10 of CTA 2010 (see section 449 of that Act).
Pt. 7A inserted (with effect in accordance with Sch. 2 paras. 52-59 of the amending Act) by Finance Act 2011 (c. 11), Sch. 2 para. 1