Part 2 Plant and machinery allowances
Chapter 5 Allowances and charges
F1Annual investment allowance
51FCompanies and groups: meaning of “control”
(1)
A company is controlled by a person in a financial year if it is controlled by that person at the end of its chargeable period ending in that financial year.
(2)
A group of companies is controlled by a person in a financial year if the company which is the parent undertaking is controlled by that person at the end of its chargeable period ending in that financial year.
(3)
Section 574(2) defines “control” in relation to a company which is a body corporate.
(4)
In relation to a company (“C”) which is not a body corporate, control means the power of a person (“P”) to secure—
(a)
by means of the holding of shares or the possession of voting power in relation to C or another body, or
(b)
as a result of any powers conferred by the constitution of C or another body,
that the affairs of C are conducted in accordance with P's wishes.
(5)
In subsection (4) “shares” has the meaning given by section 1161(2) of the Companies Act 2006.