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Paragraph 12

United Kingdom

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

A qualifying company is a company in relation to which the requirements of this Part of this Schedule are met as to—

(a)

independence (see paragraph 13),

(b)

having only qualifying subsidiaries (see paragraph 14),

(c)

gross assets (see paragraph 16), and

(d)

trading activities (see paragraph 17).

Notes on Schedule 14

Textual amendments

F1

Sch. 14 repealed (with effect in accordance with s. 723(1)(a)(b) of the amending Act) by Income Tax (Earnings and Pensions) Act 2003 (c. 1), Sch. 8 Pt. 1 (with Sch. 7)