170 Interpretation of sections 171 to 181
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

Part VI Companies, Oil, Insurance etc

Chapter I
Companies

Groups of companies

170  Interpretation of sections 171 to 181

(1)     This section has effect for the interpretation of sections 171 to 181 except in so far as the context otherwise requires, and in those sections—

(a)     “profits” means income and chargeable gains, and

(b)     “trade” includes “vocation”, and includes also an office or employment.

Until 6th April 1993 paragraph (b) shall have effect with the addition at the end of the words “or the occupation of woodlands in any context in which the expression is applied to that in the Income Tax Acts”.

(2)     Except as otherwise provided—

(a)     . . .

(b)     subsections (3) to (6) below apply to determine whether companies form a group and, where they do, which is the principal company of the group;

(c)     in applying [section 1154(3) of CTA 2010 (meaning of “75% subsidiary”)] any share capital of a [registered society (see section 1119 of that Act)] shall be treated as ordinary share capital; and

(d)     “group” and “subsidiary” shall be construed with any necessary modifications where applied to a company incorporated under the law of a country outside the United Kingdom.

(3)

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