Paragraph 14 F1
This paragraph applies for the purposes of this Part.
A company is a “direct interest company” in relation to P if—
it is company A (see paragraph 13(1)), or
P directly owns some portion of the ordinary share capital of the company.
A company is a “relevant corporate partner” in relation to P and a partnership if—
a direct interest company in relation to P (“company DIC”) owns some portion of the ordinary share capital of the company (whether it is owned directly, indirectly or partly directly and partly indirectly),
the company is a member of a group of companies of which company DIC is a member, and
the company is a member of the partnership.
In sub-paragraph (3) the reference to a company owning share capital indirectly is to be read in accordance with section 1155 of CTA 2010.
Annotations
Textual amendments
- F1
Sch. 7ZA inserted (with effect in accordance with Sch. 13 para. 6(1) of the amending Act) by Finance Act 2016 (c. 24), Sch. 13 para. 5
Notes on Schedule 7ZA
Textual amendments
- F2
Words in Act substituted (with effect for the tax year 2020-21 and subsequent tax years) by Finance Act 2020 (c. 14), Sch. 3 paras. 7(2)(a), 8 (with Sch. 3 para. 7(3))