Paragraph 94

United Kingdom

(1)

For the purposes of the SIP code one company is an “associated company” of another company at a given time if—

(a)

one has control of the other, or

(b)

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

(2)

Sub-paragraph (1) does not, however, apply for the purposes of paragraph 29 (prohibited shares).

(3)

For the purposes of sub-paragraph (1) the question whether a person controls a company is to be determined in accordance with F1sections 450 and 451 of CTA 2010.

Annotations

Textual amendments

F1: Words in Sch. 2 para. 94(3) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 396(7) (with Sch. 2)

Notes on Schedule 2

Textual amendments

F1: Word in Sch. 2 title omitted (6.4.2014) by virtue of Finance Act 2014 (c. 26), Sch. 8 paras. 14, 89 (with Sch. 8 paras. 90-96)