Corporation Tax Act 2010 section 443

Companies controlled by or on behalf of Crown

Section 443 provides an exemption from close company status for companies that are controlled by or on behalf of the Crown, subject to certain conditions.

• A company controlled by or on behalf of the Crown is not treated as a close company solely because it meets the general control test in section 439(2).
• A company is "controlled by or on behalf of the Crown" if it is under the control of the Crown, or persons acting on behalf of the Crown, independently of any other person.
• The exemption does not apply if the company would be a close company because it is controlled by persons acting independently of the Crown.
• The exemption also does not prevent a company from being close under the separate participator rights test in section 439(3).