SCHEDULES
SCHEDULE 27Remittance basis
Part 1Amendments of ITA 2007
7
1
Section 809M (meaning of “relevant person” for purposes of sections 809L, 809N and 809O) is amended as follows.
2
In subsection (2)(e), insert at the end “or a company which is a 51% subsidiary of such a close company”.
3
In subsection (3), after paragraph (c) insert—
ca
“participator”, in relation to a close company, means a person who is a participator in relation to the company for the purposes of section 419 of ICTA (see sections 417(1) and 419(7) of that Act),
cb
“51% subsidiary” has the same meaning as in the Corporation Tax Acts (see section 838 of ICTA),