# Corporation Tax Act 2010, Section 1156: Calculation of amounts owned indirectly: main rules

Extent: E+W+S+N.I.

(1) If a body corporate (“A”) directly owns the whole of the ordinary share capital of another body corporate (“B”), A is treated as indirectly owning the whole of any ordinary share capital that is owned directly or indirectly by B.
(2) If a body corporate (“A”) directly owns a fraction of the ordinary share capital of another body corporate (“B”) and B directly or indirectly owns ordinary share capital of a third body corporate (“C”), A is treated as indirectly owning the amount of C's ordinary share capital given by the formula—
F×Mwhere—
F is the fraction of B's ordinary share capital that is owned by A, and
M is the amount of the ordinary share capital of C that is owned directly or indirectly by B.
(3) For the purposes of subsections (1) and (2), the amount of any ordinary share capital that is owned indirectly by B is calculated using subsection (1) or (2), or both, as appropriate.

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Source: https://www.legislation.gov.uk/ukpga/2010/4/section/1156 (the official version)
Page: https://openlegislation.uk/corporation-tax-act-2010/section-1156
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.