CG67876 - Reliefs: employee-ownership trusts: defining significant and controlling interests: further definitions

TCGA92/S236T(5)

In CG67875 ‘third party’ means a person other than,

• C or a member of a group of which C is the principal company,
• a person who is, or has at any time in the preceding 12 months been, a participator in C or in a member of such a group, or
• a person connected with a person in the second point above.

In applying the guidance at CG67875, ‘close company’ and ‘participator’ have the same meaning as in IHTA84/S102. The meaning of ‘participator’ is extended in the same way as in the second paragraph of CG67839.