Revenue Note for Guidance

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Revenue Note for Guidance

11 Meaning of “control” in certain contexts

This section defines “control” for the purposes of, and subject to, the provisions of the Corporation Tax Acts which specifically apply the definition. In other words, if the definition is to apply for a particular provision of those Acts, the provision must state that it so applies (either with or without modification). The definition has two aspects; one applies in relation to a company and the other in relation to a partnership.

In the case of a company, “control” is the ability of a person to direct that the affairs of the company are conducted in accordance with the wishes of that person. This ability may be evidenced by the person’s holding of shares or possession of voting rights in the company or any other company or by the existence of any powers conferred by the constitution, articles of association or other document regulating the company or any other company.

In the case of a partnership, “control” is the right to a share of more than 50 per cent of the assets, or of more than 50 per cent of the income, of the partnership.

Relevant Date: Finance Act 2020