SCHEDULES
SCHEDULE 18Serial tax avoidance
PART 6Corporate groups, associated persons and partnerships
Meaning of “associated”
48
1
For the purposes of paragraph 47 two persons are associated with one another if—
a
one of them is a body corporate which is controlled by the other, or
b
they are bodies corporate under common control.
2
Two bodies corporate are under common control if both are controlled—
a
by one person,
b
by two or more, but fewer than six, individuals, or
c
by any number of individuals carrying on business in partnership.
3
For the purposes of this section a body corporate (“H”) is taken to control another body corporate (“B”) if—
a
H is empowered by statute to control B's activities, or
b
H is B's holding company within the meaning of section 1159 of and Schedule 6 to the Companies Act 2006.
4
For the purposes of this section an individual or individuals are taken to control a body corporate (“B”) if the individual or individuals, were they a body corporate, would be B's holding company within the meaning of those provisions.