Corporation Tax Act 2010 section 772

Exceptions: relevant person

Section 772 defines who counts as a "relevant person" for the purposes of the exceptions to the finance arrangement rules set out in section 771.

• For Type 1 finance arrangements (sections 758–762), the relevant persons are the borrower, anyone connected with the borrower, and (if the borrower is a partnership) any partner in that partnership.
• For Type 2 finance arrangements (sections 763–766), the relevant person is the transferor.
• For Type 3 finance arrangements (sections 767–769), the relevant person is a "relevant member" as defined in those provisions.
• The definition of persons "connected with the borrower" includes at least all those who would be treated as connected under the general connected persons rule in section 1122, and may extend further.