C2C1F1PART 3ACompanies with small profits
Pt. 3A applied (with effect in accordance with Sch. 1 para. 33 of the amending Act) by 2001 c. 2, s. 99(4A) (as inserted by Finance Act 2021 (c. 26), Sch. 1 para. 16(3))
Pt. 3A applied (with effect in accordance with Sch. 1 para. 33 of the amending Act) by S.I. 1998/3175, reg. 2(2A) (as inserted by Finance Act 2021 (c. 26), Sch. 1 para. 13(2)(c))
The lower limit and the upper limit
18JAssociation through a trustee
1
Subsection (2) applies if—
a
two companies (“A” and “B”) are controlled by the same person by virtue of rights or powers (or both) held in trust by that person, and
b
there is no other connection between A and B.
2
In determining for the purposes of this Part whether A and B are associated with each other, the rights and powers mentioned in subsection (1)(a) are ignored.
3
In subsection (1)—
a
“control” has the same meaning as in section 18E(4),
b
“connection” includes a connection in the past as well as a connection in the present, and
c
the reference to a connection between A and B includes any dealings between them.
Pt. 3A inserted (with effect in accordance with Sch. 1 para. 34 of the amending Act) by Finance Act 2021 (c. 26), Sch. 1 para. 3