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Income and Corporation Taxes Act 1988

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184Independent accountants

(1)For the purposes of this Chapter, “independent accountant”, in relation to a profit-related pay scheme, means a person who—

(a)is within section 389(1)(a) or (b) of the [1985 c. 6.] Companies Act 1985 or Article 397(1)(a) or (b) of the [S.I. 1986/1032 (N.I. 6).] Companies (Northern Ireland) Order 1986 (qualification for appointment as auditor); and

(b)is not excluded by subsections (2) to (5) below.

(2)A person is not an independent accountant in relation to a profit-related pay scheme if—

(a)he is the employer of employees to whom the scheme relates; or

(b)he is a partner or an employee of, or partner of an employee of, a person within subsection (3) below; or

(c)he is an employee of a person within paragraph (b) above.

(3)The persons within this subsection are—

(a)any person having employees to whom the scheme relates;

(b)any body corporate which is the subsidiary or holding company of a body corporate within paragraph (a) above or a subsidiary of such a body’s holding company.

(4)For the purposes of this section—

(a)an auditor of a company is not to be regarded as an employee of it; and

(b)“holding company” and “subsidiary” are to be construed in accordance with section 736 of the Companies Act 1985 or Article 4 of the Companies (Northern Ireland) Order 1986.

(5)A body corporate cannot be an independent accountant in relation to a scheme.

(6)For the purposes of this Chapter, “independent accountant”, in relation to a scheme, includes a Scottish firm all the partners of which are independent accountants in relation to the scheme.

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