Paragraph 8 Meaning of “close company”F1

(1)

For the purposes of this Schedule, a company is a “close company” if it is a close company within the meaning given by Chapter 2 of Part 10 of CTA 2010 (basic definitions), applying that Chapter subject to the following modifications.

(2)

Section 444 (companies involved with close companies) applies as if condition A in that section were omitted.

(3)

Section 446 (particular types of quoted company not treated as close) is treated as omitted.

Annotations

Textual amendments

F1: Sch. 9A inserted (with effect in accordance with Sch. 16 para. 6 of the amending Act) by Finance Act 2021 (c. 26), Sch. 16 para. 5