PART 6A

Income charged under this Act: trading and property allowances
CHAPTER 2

Property allowance

Exclusions from relief

Exclusion from relief: payments by close company
783BP
1
No relief under this Chapter is given to an individual for a tax year if—
a
the individual has relevant property income for the tax year, and
b
the income includes a payment made by, or on behalf of, a close company at a time when the individual is—
i
a participator in the close company, or
ii
an associate of a participator in the close company.
2
In this section “
associate
” and “
participator
” have the same meanings as in Part 10 of CTA 2010 (see sections 448 and 454).
Pt. 6A inserted (16.11.2017) (with effect in accordance with Sch. 3 para. 13 of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 3 para. 1