[554Z2A Exception to section 554Z2(1): close companies]
Income Tax (Earnings and Pensions) Act 2003 (2003 c 1) | Legislation

[554Z2A  Exception to section 554Z2(1): close companies]

[(1)     Section 554Z2(1) does not apply in the case of a relevant step if—

(a)     this Chapter applies in the case of the relevant step only by reason of section 554AA (close companies),

(b)     the relevant step is a step within section 554B, 554C or 554D,

(c)     the relevant step gives rise to a charge to tax under either—

(i)     section 455 of CTA 2010 by virtue of section 459 of that Act (loans treated as made to participator), or

(ii)

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