Section 783AQ Exclusion from relief: payments by close companyF1
(1)
No relief under this Chapter is given to an individual for a tax year if—
(a)
the individual has relevant income for the tax year, and
(b)
the income includes a payment made by, or on behalf of, a close company at a time when the individual is—
(i)
a participator in the close company, or
(ii)
an associate of a participator in the close company.
(2)
In this section “associate” and “participator” have the same meanings as in Part 10 of CTA 2010 (see sections 448 and 454).
Annotations
Textual amendments
- F1
Pt. 6A inserted (16.11.2017) (with effect in accordance with Sch. 3 para. 13 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 3 para. 1
Notes on Chapter 1
Modifications
- C1
Pt. 6A Ch. 1 excluded (22.7.2020) by Finance Act 2020 (c. 14), Sch. 16 para. 4(4)