# Corporation Tax Act 2009, Section 376: Interpretation of section 375

Extent: E+W+S+N.I.

(1) For the purposes of section 375 and this section, Chapter 2 of Part 10 of CTA 2010 (meaning of “close company”) applies with the omission of section 442(a) (exclusion of non-resident companies).
(2) A person who is a participator in a company which controls another company is treated for the purposes of section 375 and this section as being a participator in that other company also.
(3) Subject to that, in section 375 and this section “participator”, in relation to a company, means a person who is a participator in the company within the meaning given by section 454 of CTA 2010, but not a person who is such a participator just because of being a loan creditor of the company.
(4) Section 472 (meaning of “control”) applies for the purposes of section 375 and this section.
(5) In section 375—
“CIS-based close company” means a company which would not be a close company apart from the rights and powers of one or more partners in a CIS limited partnership being attributed to another of the partners under section 451(4) to (6) of CTA 2010 because of section 448(1)(a) of that Act,
“CIS limited partnership” means a limited partnership—
(a)which is a collective investment scheme, or
(b)which would be a collective investment scheme if it were not a body corporate,
“non-qualifying territory” has the meaning given by section 173 of TIOPA 2010,
“resident for tax purposes” means liable, under the law of the non-qualifying territory, to tax there by reason of domicile, residence or place of management, and
“small or medium-sized enterprise” has the meaning given by section 172 of TIOPA 2010.
(6) For the purposes of section 375, a non-qualifying territory is “non-taxing” if companies are not under its law liable to tax by reason of domicile, residence or place of management.

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Source: https://www.legislation.gov.uk/ukpga/2009/4/section/376 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2009/section-376
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.