408(1) This section gives the meaning of “associated company” for the purposes of this Chapter.
408(2) References to an associated company in any provision other than subsection (6)(b) are to a company which is an associated company of the company that is the relevant company for the purposes of that provision on the day that is the relevant day for those purposes.
408(3) A company is an “associated company” of another company on any day if, at the start of that day–
(a)one of the two has control of the other, or
(b)both are under the control of the same person or persons,
Want to read more?
This content requires a Croner-i Tax and Accounting subscription.