{
  "url": "https://openlegislation.uk/corporation-tax-act-2010/section-1047",
  "json_url": "https://openlegislation.uk/corporation-tax-act-2010/section-1047.json",
  "legislation": "ukpga/2010/4",
  "legislation_title": "Corporation Tax Act 2010",
  "legislation_url": "https://openlegislation.uk/corporation-tax-act-2010",
  "path": "section/1047",
  "kind": "section",
  "number": "1047",
  "heading": "Meaning of “group” and “51% subsidiary” in sections 1033 to 1047",
  "text": "(1) In this section and sections 1033 to 1046 “group” (except in the expression “trading group”) means a company which has one or more 51% subsidiaries but is not itself a 51% subsidiary of any other company, together with those subsidiaries.\nThis is subject to subsection (2).\n(2) If the whole or a significant part of the business carried on by an unquoted company (“the successor company”) was previously carried on by—\n(a) the company making the purchase, or\n(b) a company which is, apart from this subsection, a member of a group to which the company making the purchase belongs,\nthe successor company and any company of which it is a 51% subsidiary are treated as being members of the same group as the company making the purchase (whether or not, apart from this subsection, the company making the purchase is a member of a group).\n(3) But subsection (2) does not apply if the successor company first carried on the business in question more than 3 years before the time of the purchase.\n(4) For the purposes of this section and sections 1033 to 1046, a company which has ceased to be a 51% subsidiary of another company before the time of the purchase is treated as continuing to be a 51% subsidiary of that company if at the time of the purchase there exist arrangements under which it could again become such a subsidiary.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2010/4/section/1047",
    "retrieved_at": "2026-10-29T09:10:29.433154+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."
}