Section 1124 “Control”C1C2C3
United Kingdom
This section has effect for the purposes of the provisions of the Corporation Tax Acts which apply this section (or to which this section is applied).
In relation to a body corporate (“company A”), “control” means the power of a person (“P”) to secure—
by means of the holding of shares or the possession of voting power in relation to that or any other body corporate, or
as a result of any powers conferred by the articles of association or other document regulating that or any other body corporate,
that the affairs of company A are conducted in accordance with P's wishes.
In relation to a partnership, “control” means the right to a share of more than half the assets, or of more than half the income, of the partnership.
Annotations
Modifications
- C1
S. 1124 applied (19.7.2011) by Finance Act 2011 (c. 11), Sch. 13 paras. 31, 33(4)
- C2
S. 1124 applied (with modifications) (E.W.) (1.4.2018) by Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Act 2017 (anaw 1), s. 81(2)(3), Sch. 10 para. 6(4); S.I. 2018/34, art. 3
- C3
S. 1124 applied (with effect in accordance with Sch. 7 para. 4 of the amending Act) by 1992 c. 12, s. 151KA(7) (as inserted by Finance Act 2025 (c. 8), Sch. 7 paras. 3(4), 4)