Corporation Tax Act 2010 section 1124

"Control"

Section 1124 defines what "control" means in relation to a company or a partnership for corporation tax purposes.

• Control of a company means the power to ensure its affairs are conducted in accordance with a person's wishes.
• That power can arise from holding shares, possessing voting power, or through rights conferred by the company's articles of association or other governing documents.
• Control of a partnership means having the right to more than half of its assets or more than half of its income.
• This definition only applies where specific provisions of the Corporation Tax Acts invoke it, with section 1176 applying it as the default definition throughout the Act unless stated otherwise.