CG38485 - Defined persons - corporate beneficiaries
TCGA92/Sch5/para2(8)(9)(10)
The definition of defined person also includes companies that are controlled by individuals who are defined persons and companies associated with those companies. The definition of control is that in CTA10/S450, see CTM60210, and includes the attribution rules in CTA10/S451, see CTM60140.
CTA10/S451 provides that a person바카라 사이트™s control of a company may be attributed to their associates. If the trustees control a company their control will be attributed to life-tenants of the settlement and the life-tenant will be treated as controlling the company. As the life tenant is already a defined person in their own right the attributed rights of the trustees do not extend the scope of the defined person바카라 사이트™s rules. But the attributed rights of trustees can cause problems in deciding if property originates from a person. This problem is described in more detail in CG38690.