[F1939HConnected personsU.K.
(1)Section 1122 (meaning of “connected” persons) applies for the purposes of this Part (except section 939G), but subject to the following modification.
(2)Section 1122 has effect as if after subsection (8) there were inserted—
“(9)A person who is a beneficiary of a settlement is connected with—
(a)a person in the capacity as trustee of the settlement, and
(b)the settlor in relation to the settlement.
(10)For the purposes of this section—
(a)a man and woman living together as husband and wife are treated as if they were husband and wife,
(b)two people of the same sex living together as if they were civil partners of each other are treated as if they were civil partners of each other, and
(c) “ close company ” includes a company that would be a close company if it were resident in the United Kingdom. ”]
Textual Amendments
F1Pt. 21C inserted (with effect in accordance with Sch. 3 para. 27 28 of the amending Act) by Finance Act 2011 (c. 11), Sch. 3 para. 2