An individual owns 50% of company A and 100% of company B. The remainder of the shares in company A are owned by a fellow director and the two directors are not related in any way.
Are A and B associated companies?
I should know this but corporation tax isnt my thing!
Replies (1)
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It depends ....
... on whether the Articles of the 50:50 company provided for a casting vote at shareholders meetings and, if so, whether Mr A is entitled to exercise that casting vote.
If the answer is Yes then they are associated. Otherwise they are not.