Section 992 | Meaning of “company”

(1)In the Income Tax Acts “company” means any body corporate or unincorporated association, but does not include a partnership, a local authority or a local authority association.

(2)Subsection (1) needs to be with read with section 617 of CTA 2010 (authorised unit trust treated as UK resident company).^F1

(3)This section does not apply for the purposes of—

(a)Part 6 (venture capital trusts),

(b)Chapters 1, 3 and 4 of Part 13 (transactions in securities and land and sales of income from occupation), and

(c)sections 993 and 994 (meaning of “connected” persons).