{
  "url": "https://openlegislation.uk/corporation-tax-act-2009/section-495",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2009/section-495.json",
  "legislation": "ukpga/2009/4",
  "legislation_title": "Corporation Tax Act 2009",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2009",
  "path": "section/495",
  "kind": "section",
  "number": "495",
  "heading": "Qualifying holdings",
  "text": "(1) For the purposes of section 494(1)(d) a holding in an open-ended investment company, a unit trust scheme or an offshore fund is a qualifying holding at any time if—\n(a) at that time, or\n(b) at any other time in the relevant accounting period,\nthe company, scheme or fund itself fails to meet the qualifying investments test ... .\n(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(3) In this section “holding”—\n(a) in relation to an open-ended investment company, means—\n(i) except where sub-paragraph (ii) applies, shares in the company, and\n(ii) in a case where under section 615(3) of CTA 2010 part of an umbrella company is regarded as an open-ended investment company, rights in the separate pool in question,\n(b) in relation to a unit trust scheme, means an entitlement to a share in the investments of the scheme, and\n(c) in relation to an offshore fund, means—\n(i) shares in any company by which the fund is constituted, or\n(ii) an entitlement to a share in the investments of the fund.\n(4) In this section “relevant accounting period” means the accounting period referred to in section 490(1).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 495(1) substituted (with effect in accordance with s. 27(7)-(9) of the amending Act) by Finance Act 2014 (c. 26), s. 27(6)(a)(i)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in s. 495(1) omitted (with effect in accordance with s. 27(7)-(9) of the amending Act) by virtue of Finance Act 2014 (c. 26), s. 27(6)(a)(ii)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "S. 495(2) omitted (with effect in accordance with s. 27(7)-(9) of the amending Act) by virtue of Finance Act 2014 (c. 26), s. 27(6)(b)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in s. 495(3)(a)(ii) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 629 (with Sch. 2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2009/4/section/495",
    "retrieved_at": "2026-10-29T09:11:19.560467+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}