Section 783AQ | Exclusion from relief: payments by close company

(1)No relief under this Chapter is given to an individual for a tax year if—

(a)the individual has relevant income for the tax year, and

(b)the income includes a payment made by, or on behalf of, a close company at a time when the individual is—

(i)a participator in the close company, or

(ii)an associate of a participator in the close company.

(2)In this section “associate” and “participator” have the same meanings as in Part 10 of CTA 2010 (see sections 448 and 454).