Income Tax Act 2007 section 257TD

Meaning of "control"

Section 257TD defines what "control" means for the purposes of the social investment tax relief (SITR) rules in Part 5B, including how control applies to charities structured as trusts and the exclusion of regulators from the definition.

• Control is defined by reference to sections 450 and 451 of the Corporation Tax Act 2010, extended so that "company" includes a charity that is a trust
• A person controls a charitable trust if they can exercise trustee powers alone or with connected co-trustees, can appoint or remove trustees, or can approve or direct how trustees carry out their functions
• A regulator is not treated as having control of any company it regulates, even if it would otherwise meet the control tests
• The general definition of control in section 995 of the Income Tax Act 2007 does not apply for these purposes