Section 614DC: Connected persons
919.This section provides that persons are regarded as connected throughout the period beginning at the time the leasing arrangements are made and ending with the termination of the current lessor’s interest if they are connected at some point during that period. It is based on paragraph 25(1) of Schedule 12 to FA 1997.
920.Section 1021(1) of ITA provides that section 993 of that Act (meaning of “connected” persons) applies for the purposes of ITA unless otherwise indicated (whether expressly or by implication). Accordingly it is unnecessary to rewrite paragraph 25(2) of Schedule 12 to FA 1997 here.