Paragraph 126

United Kingdom

(1)

For the purposes of this Schedule one company is an “associated company” of another company if—

(a)

one has control of the other, or

(b)

both are under the control of the same person or persons.

(2)

For the purposes of this paragraph the question of whether a person controls a company shall be determined in accordance with section 416(2) to (6) of the Taxes Act 1988.

(3)

This paragraph is subject to paragraph 67(3).

Notes on Schedule 8

Textual amendments

F1: Sch. 8 repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 8 Pt. 1 (with Sch. 7)