CTM60210 | Close companies: tests: control - definition
From HM Revenue & Customs · Company Taxation Manual
, S451 and S1069(3) (formerly ICTA88/S416 (2), (3), (5) & (6))
Control is defined under several headings:
Control over the affairs of the company (see ).
Control through voting power (see (1) of ).
Control through share capital or through issued share capital (see (2) of ).
Control over income of the company (see (3) of ).
Control over assets of the company (see (4) of ).
If a person or two or more persons together satisfy any of the conditions in and , he, she or they have control of the company.
In determining whether any person (or persons) has control, the rights and powers of certain other persons may be attributed to them. In determining the rights, etc, attributed to any person, to apply with the substitution of ‘person’ for ‘participator’.