A company is a close company for the purposes of IHTA 1984, ss 94–102 (Pt IV) if it is a close company for the purposes of the Corporation Tax Acts (as defined at D3.102), or would be such but for being resident outside the UK1.
Broadly, a company is close if:
- Ìý
•ÌýÌýÌýÌý it is under the control of five or less participators (or any number of participators if those participators are directors), or
- Ìý
•ÌýÌýÌýÌý more than half the assets of which would be distributed to five or less
To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to Tolley+™ Research or register for a free trial
Web page updated on 17 Mar 2025 13:43