{
  "url": "https://openlegislation.uk/corporation-tax-act-2010/section-721",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2010/section-721.json",
  "legislation": "ukpga/2010/4",
  "legislation_title": "Corporation Tax Act 2010",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2010",
  "path": "section/721",
  "kind": "section",
  "number": "721",
  "heading": "When things other than ordinary share capital may be taken into account: Chapters 2 to 5A",
  "text": "(1) This section applies for the purposes of Chapters 2 to 5A if conditions A and B are met.\n(2) Condition A is that persons (whether company members or not) possess extraordinary rights or powers under any document regulating a company.\n(3) Condition B is that because of that fact ownership of the ordinary share capital may not be an appropriate test of whether there has been a major change in the persons for whose benefit the relief may ultimately enure.\n(4) In determining whether there has been a change in the ownership of the company for the purposes of Chapter 2, 2A, 2B, 2C, 2D, 2E, 3, 4 , 5 or 5A , any of the following may be taken into account instead of ordinary share capital—\n(a) holdings of all kinds of share capital,\n(b) holdings of any particular kind of share capital,\n(c) voting power, and\n(d) any other kind of special power.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Word in s. 721(1) substituted (with effect in accordance with Sch. 13 para. 3 of the amending Act) by Finance Act 2013 (c. 29), Sch. 13 para. 1(4)(b)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 721(4) inserted (with effect in accordance with Sch. 4 para. 190 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 4 para. 90"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Word in s. 721(4) inserted (with effect in accordance with Sch. 8 para. 21 of the amending Act) by Finance Act 2021 (c. 26), Sch. 8 para. 15"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in s. 721(4) substituted (with effect in accordance with Sch. 13 para. 3 of the amending Act) by Finance Act 2013 (c. 29), Sch. 13 para. 1(4)(c)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Word in s. 721 heading substituted (with effect in accordance with Sch. 13 para. 3 of the amending Act) by Finance Act 2013 (c. 29), Sch. 13 para. 1(4)(a)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Ss. 719-724A modified (with effect in relation to accounting periods commencing on or after 31.12.2023) by Finance (No. 2) Act 2023 (c. 30), ss. 212(5), 264"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2010/4/section/721",
    "retrieved_at": "2026-10-29T09:10:29.433154+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}