Section 1152

This section defines “associate” for the purposes of section 1151 (valuation: independence requirement). In relation to an individual, “associate” means— that individual's spouse or civil partner or minor child or step-child, any body corporate of which that individual is a director, and any employee or partner of that individual. In relation to a body corporate, “associate” means— any body corporate of which that body is a director, any body corporate in the same group as that body, and any employee or partner of that body or of any body corporate in the same group. In relation to a partnership that is a legal person under the law by which it is governed, “associate” means— any body corporate of which that partnership is a director, any employee of or partner in that partnership, and any person who is an associate of a partner in that partnership. In relation to a partnership that is not a legal person under the law by which it is governed, “associate” means any person who is an associate of any of the partners. In this section, in relation to a limited liability partnership, for “director” read “member”.

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Source: legislation.gov.uk · retrieved 2026-09-04