19(1)For the purposes of this Schedule a person (“P”) is a “controlling member” of a partnership at any time when the person has a right to a share of more than half the assets, or of more than half the income, of the partnership.U.K.
(2)For that purpose there are to be attributed to P any interests or rights of—
(a)any individual who is connected with P (if P is an individual), and
(b)any body corporate that P controls.
(3)An individual is “connected” with P if the individual is—
(a)P's spouse or civil partner;
(b)a relative of P;
(c)the spouse or civil partner of a relative of P;
(d)a relative of P's spouse or civil partner, or
(e)the spouse or civil partner of a relative of P's spouse or civil partner.
(4)In sub-paragraph (3) “relative” means brother, sister, ancestor or lineal descendant.
(5)P controls a body corporate (“B”) if P has power to secure—
(a)by means of the holding of shares or the possession of voting power in relation to B or any other body corporate, or
(b)as a result of any powers conferred by the articles of association or other document regulating that or any other body corporate,
that the affairs of B are conducted in accordance with P's wishes.
F120U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 36 para. 20 and crossheading omitted (with effect in accordance with Sch. 19 para. 9 of the amending Act) by virtue of Finance Act 2015 (c. 11), Sch. 19 para. 5(b)
21(1)The Treasury may by regulations amend paragraph 19 F2....U.K.
(2)Regulations under sub-paragraph (1) may include any amendment of this Schedule that is necessary in consequence of any amendment made by virtue of sub-paragraph (1).
Textual Amendments
F2Words in Sch. 36 para. 21 omitted (with effect in accordance with Sch. 19 para. 9 of the amending Act) by virtue of Finance Act 2015 (c. 11), Sch. 19 para. 5(c)