Who is a connected person Insolvency Act?

For the purposes of the Insolvency Act 1986, persons connected with the company are directors, shadow directors, associates of such directors or shadow directors and associates of the company (section 249, Insolvency Act 1986).

What is a connected person?

A Connected Person can be a relative, friend or any other person with a prior connection with a child/young person who is looked after by the local authority.

Is a cousin a connected person?

Uncles, aunts, nephews, nieces and cousins are therefore not connected persons for this purpose; above relatives of spouse, i.e. parents-in-law, brothers and sisters-in-law and stepchildren; spouses of the relatives of the spouse.

What is a connected creditor?

A connected creditor could be a director or employee owed money from the company. At this meeting, 50% of creditors will need to vote in favour in order for the CVA proposal to be approved.

Is a sister a connected person?

An individual is connected with: Spouse or civil partner; Relatives (= brother, sister, ancestor or lineal descendant) and spouses or civil partners of relatives; Relatives of spouse or of civil partner and spouses or civil partners of those relatives.

Who is a connected person for CGT?

The definition of connected persons for these purposes includes spouses/civil partners, parents, grandparents (and remoter such ancestors), children, grandchildren and further issue, brothers & sisters and spouses/civil partners of most of these relatives as well. It therefore encompasses most close family members.

Who is deemed to be a connected person?

“A person shall be deemed to be connected if they are officers or directors of one another’s business.” (b) “one another” – or “each other” generally refers to 2 parties who are doing something together or in relationship to the other.

Is a nephew a connected person?

However, the definition of connected persons is extended for Inheritance Tax to include the individual’s uncle/aunt, nephew/nieces and their spouse, spouse’s uncle/aunt and spouse’s nephew and niece.

Who is connected to a company?

A company is connected with another company if either the same person has control of both companies (or that person and a person connected with him together have control of both companies), or if a group of two or more persons has control of each company and the group consists of the same persons (or could be regarded …

Is a director an associated person?

A person is an associate of any person whom he employs or by whom he is employed. Any director or other officer of a company is to be treated as employed by that company.

Are parents connected persons?

CONNECTED PERSONS POLICY ‘Relative, friend or connected person’ is defined as: a grandparent, brother, sister, uncle or aunt (whether of the full blood or half blood or by marriage or civil partnership), step-parent or friend of, or other person connected with, a Child Looked After.

Is a spouse a connected person?

What is a connected person? In addition, all of the above relatives of that person’s spouse would be relatives of the person, as well as the spouses of any of those relatives.