Part 7A

Employment income provided through third parties
CHAPTER 1

Application etc

Application: close companies

Section 554AA: supplementary
554AF
1
Section 554AA(1) is subject to subsection (2) and sections 554E to 554Y.
2
Chapter 2 does not apply by reason of section 554AA(1) in relation to a relevant step taken on or after A's death if—
a
the relevant step is within section 554B, or
b
the relevant step is within section 554C by virtue of subsection (1)(ab) of that section.
3
In section 554AA(1)(a) and (b) references to A include references to a person linked with A.
4
For the purposes of section 554AA(1)(b) it does not matter if the relevant arrangement does not include details of the steps which will or may be taken in connection with providing, in essence, payments or benefits or loans as mentioned (for example, details of any sums of money or assets which will or may be involved or details of how or when or by whom or in whose favour any step will or may be taken).
5
For the purposes of section 554AA(1)(b) and (d) in particular, all relevant circumstances are to be taken into account in order to get to the essence of the matter.
Pt. 7A inserted (with effect in accordance with Sch. 2 paras. 52-59 of the amending Act) by Finance Act 2011 (c. 11), Sch. 2 para. 1
Pt. 7A modified (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), Sch. 11 para. 35(6)
Ss. 554AA-554AF and cross-heading inserted (with effect in accordance with Sch. 1 para. 14 of the amending Act) by Finance Act 2018 (c. 3), Sch. 1 para. 2
Pt. 7A modified (22.7.2020) by 2017 c. 32, Sch. 11 para. 1A(2)(6) (as inserted by Finance Act 2020 (c. 14), s. 16(3))
Pt. 7A modified (16.11.2017) by Finance (No. 2) Act 2017 (c. 32), Sch. 11 para. 1(8)