Corporation Tax Act 2010 section 430

"Associated company"

Section 430 defines when a company is treated as an "associated company" of another for the purposes of Chapter 4, including special rules for companies owned by consortia.

• A company is associated with another if, at the start of any day, one controls the other or both are controlled by the same person or persons, with "control" having the meaning given by section 450 (close companies).
• Where a consortium company experiences a qualifying change in its interest in a business, all consortium members at the start of that day — and their own associated companies — are treated as associated companies of the consortium company.
• Where a consortium company experiences a qualifying change of ownership but no change in its business interest, only "relevant" consortium members (and their associated companies) are treated as associated — a member is relevant if the change is one described in section 394(2), (6) or (8) in relation to which that member is regarded as "E".
• A "consortium company" for these purposes is one that is either owned by a consortium or is a qualifying 75% subsidiary of a company owned by a consortium.