TTM12060 - Tonnage Tax Groups: Control
‘Settlement’ includes any disposition, trust, covenant, agreement, arrangement or transfer of assets (paragraph 144(3) Schedule 22 FA 2000 and S660G(1) ICTA 1988).
‘Settlor’ in relation to a settlement, means any person by whom the settlement was made (paragraph 144(3) Schedule 22 FA 2000 and S660G(1) ICTA 1988).
A person shall be deemed to have made a settlement if:
- he has made or entered into the settlement directly or indirectly, or
- he has provided or undertaken to provide funds directly or indirectly for the purposes of the settlement, or
- he has made with any other person a reciprocal arrangement for that other person to make or enter into the settlement.
FA00/SCH22/PARA144(3) (meaning of ‘settlement’ and ‘settlor’)
Control by an individual