CTM60105 - Close companies: tests: specific exceptions

CTA2010/S439 (1) & (2), CTA2010/S444 (1), (2) & (3) &CTA2010/S446 (1) & (6) (formerly ICTA88/S414 (1), (5), & ICTA88/S415 (1))

»Ê¹ÚÌåÓýapp following cannot be close companies:

  1. A company not resident in the UK. (Thus none of the provisions regarding close companies applies to a non-resident company trading in the UK through a branch or agency in the UK - see CTM34210.)
  2. A society registered under the Industrial and Provident Societies Acts.
  3. A building society.
  4. A company controlled by or on behalf of the Crown and not otherwise a close company (see CTM60270).
  5. Certain companies controlled by other companies which are not themselves close companies (see CTM60290).
  6. Certain ‘quoted� companies in which the ‘public� holds 35% or more of the voting power (see CTM60310).

If a company is within (1) to (3) above, none of the following guidance is relevant because such a company cannot be a close company whoever controls it or is entitled to its income. »Ê¹ÚÌåÓýapp application of (4) to (6), however, involves the concept of control, and is considered in more detail in CTM60260 onwards.