Section 718 | Meaning of “associated company”

(1)This section has effect for the purposes of sections 713 and 714.

(2)“Associated company”, in relation to Y and an assessment to tax, means a company (whenever formed) which, at the time of the assessment or at an earlier time after the change in the ownership of Y—

(a)has control of Y,

(b)is a company of which Y has control, or

(c)is a company under the control of the same person or persons as Y.