C6Part 10Close companies
C5C4C15C14Chapter 2Basic definitions
Pt. 10 Ch. 2 applied (with modifications) (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 376(1) (as amended by 2010 c. 4, s. 1184(1), Sch. 1 para. 610(2) (with Sch. 2))
Pt. 10 Ch. 2 applied (with modifications) (with effect in accordance with s. 1184(1) of the amending Act) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 456(7) (as substituted by 2010 c. 4, s. 1184(1), Sch. 1 para. 466(2) (with Sch. 2))
Pt. 10 Ch. 2 modified (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by 1992 c. 12, Sch. 5AAA para. 36(3)(4) (as inserted by Finance Act 2019 (c. 1), Sch. 1 para. 21)
Pt. 10 Ch. 2 applied (with modifications) (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by 1992 c. 12, Sch. 5AAA para. 46(2) (as inserted by Finance Act 2019 (c. 1), Sch. 1 para. 21)
Meaning of other expressions in this Part
C1C5C3C4C2C13451C5C4Section 450: rights to be attributed etc
C7C9C10C8C11C121
This section applies for the purposes of section 450.
C7C9C10C8C11C122
A person is treated as entitled to acquire anything which the person—
a
is entitled to acquire at a future date, or
b
will at a future date be entitled to acquire.
C7C9C10C8C11C123
If a person—
a
possesses any rights or powers on behalf of another person (A), or
b
may be required to exercise any rights or powers on A's direction or behalf,
those rights or powers are to be attributed to A.
C9C10C8C11C124
There may also be attributed to a person all the rights and powers—
a
of any company of which the person has, or the person and associates of the person have, control,
b
of any two or more companies within paragraph (a),
c
of any associate of the person, or
d
of any two or more associates of the person.
C9C10C8C11C125
The rights and powers which may be attributed under subsection (4)—
a
include those attributed to a company or associate under subsection (3), but
b
do not include those attributed to an associate under subsection (4).
6
Such attributions are to be made under subsection (4) as will result in a company being treated as under the control of 5 or fewer participators if it can be so treated.
Pt. 10 applied (with modifications) (6.4.2014) by National Insurance Contributions Act 2014 (c. 7), s. 8, Sch. 1 Pt. 1