Part 10 Meaning of “Act Together”
Finance Act 2021 (2021 c 26) | Legislation

Part 10 Meaning of “Act Together”

24

(1)     Section 259ND of TIOPA 2010 (meaning of “50% investment” and “25% investment”) is amended as follows.

(2)     For subsection (7) substitute—

“(7)     P is to be taken to “act together” with T in relation to U if (and only if) subsection (7A) or (7B) applies.

(7A)     This subsection applies if—

(a)     P and T are party to a partnership agreement that—

(i)     it is reasonable to suppose is designed to affect the value of any of T's rights or interest in relation

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