# Inheritance Tax Act 1984, Paragraph 9


(1) In this Schedule—
“close company” means a company within the meaning of the Corporation Tax Acts which is (or would be if resident in the United Kingdom) a close company for the purposes of those Acts;
references to an interest in a close company are to the rights and interests that a participator in a close company has in that company.
(2) In this paragraph—
“participator”, in relation to a close company, means any person who is (or would be if the company were resident in the United Kingdom) a participator in relation to that company within the meaning given by section 454 of the Corporation Tax Act 2010;
references to rights and interests in a close company include references to rights and interests in the assets of the company available for distribution among the participators in the event of a winding-up or in any other circumstances.

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Source: https://www.legislation.gov.uk/ukpga/1984/51/schedule/A1/paragraph/9 (the official version)
Page: https://openlegislation.uk/inheritance-tax-act-1984/schedule-A1/paragraph-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.