Section 438 Overview of Part

United Kingdom

(1)

Chapter 2 defines “close company” and other expressions used in this Part.

(2)

Chapter 3 imposes a charge to tax in connection with loans or advances by close companies to participators.

F1(2A)

Chapter 3A imposes a charge to tax in connection with other arrangements involving close companies and participators.

F2(2B)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)

Chapter 4 contains a power to obtain information in connection with close companies.

(4)

For the meaning of “participator”, see section 454.

Annotations

F1: S. 438(2A)(2B) inserted (retrospective to 20.3.2013) by Finance Act 2013 (c. 29), Sch. 30 para. 2(1) (2)
F2: S. 438(2B) omitted (30.10.2024) by virtue of Finance Act 2025 (c. 8), s. 81(3)(c)(4)

C1: Pt. 10 applied (with modifications) (6.4.2014) by National Insurance Contributions Act 2014 (c. 7), s. 8, Sch. 1 Pt. 1