Modifications etc. (not altering text)
C1Pt. V Ch. I (ss. 103-114) modified (16.7.1992) by Finance (No.2) Act 1992 (c. 48), s. 73, Sch. 14, para. 9(4).
(1)In this Chapter references to a transfer of value include references to an occasion on which tax is chargeable under Chapter III of Part III of this Act (apart from section 79), and
(a)references to the value transferred by a transfer of value include references to the amount on which tax is then chargeable, and
(b)references to the transferor include references to the trustees of the settlement concerned.
(2)For the purposes of this Chapter a company and all its subsidiaries are members of a group, and “holding company” and “subsidiary” have [F1the meaning given by section [F21159 of and Schedule 6 to]] the [F3Companies Act [F42006]]
(3)In this Chapter “business” includes a business carried on in the exercise of a profession or vocation, but does not include a business carried on otherwise than for gain.
Textual Amendments
F1Companies Act 1989 s. 144(4)and Sch. 18 para. 30(3)with effect from the appointed day—on and after 1November 1990 (S.I. 1990 No. 1392).Originally
“the same meanings as in”.
F2Words in s. 103(2) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments) (Taxes and National Insurance) Order 2009 (S.I. 2009/1890), art. 4(1)(f)
F3Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27), Sch. 2,with effect from 1July 1985.
F4Words in s. 103(2) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments) (Taxes and National Insurance) Order 2009 (S.I. 2009/1890), art. 4(1)(f)