单词 | close company |
释义 | close company close company A company resident in the UK that is under the control of five or fewer participators or any number of participators who are also directors. There is also an alternative asset-based test, which applies if five or fewer participators, or any number who are directors, would be entitled to more than 50% of the company’s assets on a winding-up. The principal consequences of being a close company are that the provision of certain benefits in kind to shareholders can be treated by HM Revenue as a distribution, as can loans or quasi-loans. There are a number of other consequences. In the USA close companies are known as closed companies. See alsoclose investment holding company. closed economy A theoretical model of an economy that neither imports nor exports and is therefore independent of economic factors in the outside world. No such economy exists, although the foreign sector of the US economy is relatively small and most economic decisions are taken by the US government independently of the rest of the world. |
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