Section 18J Association through a trusteeF1

(1)

Subsection (2) applies if—

(a)

two companies (“A” and “B”) are controlled by the same person by virtue of rights or powers (or both) held in trust by that person, and

(b)

there is no other connection between A and B.

(2)

In determining for the purposes of this Part whether A and B are associated with each other, the rights and powers mentioned in subsection (1)(a) are ignored.

(3)

In subsection (1)—

(a)

“control” has the same meaning as in section 18E(4),

(b)

“connection” includes a connection in the past as well as a connection in the present, and

(c)

the reference to a connection between A and B includes any dealings between them.

Annotations

Textual amendments

F1: Pt. 3A inserted (with effect in accordance with Sch. 1 para. 34 of the amending Act) by Finance Act 2021 (c. 26), Sch. 1 para. 3

Notes on Part 3A

Modifications

C1: Pt. 3A excluded (9.12.2021) by S.I. 2006/964, reg. 14B(3)(c) (as inserted by The Authorised Investment Funds (Tax) (Amendment) Regulations 2021 (S.I. 2021/1270), regs. 1, 4(b))
C2: Pt. 3A excluded (9.12.2021) by S.I. 2006/964, reg. 14DA(3)(a) (as inserted by The Authorised Investment Funds (Tax) (Amendment) Regulations 2021 (S.I. 2021/1270), regs. 1, 3(2))
C3: Pt. 3A applied (with effect in accordance with Sch. 1 para. 33 of the amending Act) by 2001 c. 2, s. 99(4A) (as inserted by Finance Act 2021 (c. 26), Sch. 1 para. 16(3))
C4: Pt. 3A applied (with effect in accordance with Sch. 1 para. 33 of the amending Act) by S.I. 1998/3175, reg. 2(2A) (as inserted by Finance Act 2021 (c. 26), Sch. 1 para. 13(2)(c))