Associated Companies - More Examples

With the reintroduction of the impact of Associated Companies, we need to know about how it will affect our companies. How do you determine who is the controlling person and what about when there is no one person in control? What is a minimum controlling combination? Let's look at some examples to see what will be associated for tax purposes. How will this affect you? What will be the impact on your tax bill?
In this video, you will discover:
Associated Companies Examples
Minimum Controlling Combinations for tax purposes
Who is in control of a company?
How do you work out if a company is associated for tax purposes?
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[@KAKA-TRAVEL365]

Hi Kimberly, Thanks for uploading knowledgeable video. Could you please clarify my understanding. Co A is owned 100 % by MR X Co B is owned 50 % by Mr X and 50 % by Mrs Y. No commercial association. As per my understanding there is no association in between Co A and Co B. Am I correct?

[@kimberleyshapcottpropertytax]

I can confirm that they will not be associated. If Mr X had 51% then they would be associated.

[@DavidSmith-qn8fl]

Hi Kimberly, interesting and thanks for explaining this. To check that I've understood correctly: property company A is 100% owned by Mr X, property company B is 50% owned by Mr X and 50% owned by Ms Y. I don't think that these companies are associated?

[@kimberleyshapcottpropertytax]

They would not be as owned by different groups of persons. The only consideration would be if there is substantial commercial interdependence between the two companies and it that is the case then it would make them associated. If they are just investment companies then the hope would be there is no linking so there is no association for tax purposes.