Mr & Mrs A own 100% of A ltd
They also own 50% of B Ltd
Are A Ltd and B Ltd associated even though Mr & Mrs A dont control B Ltd as that Company is in deadlock 50/50
Thanks
AJJ
Replies (3)
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Remember about assets on liquidation
Remember to check who gets the assets if the company was liquidated
Associated companies
No association as even attributing Mr A's share to Mrs A, neither has the greater part of the shares in B. Watch out however who owns the remainder of B Ltd as if owned by other relatives, association rules may mean either Mr A or Mrs A would then have the greater part.
Even so, Extra Stautory Concession ESC/C9 may disapply any association of other relatives.