{
  "url": "https://openlegislation.uk/finance-act-2007/schedule-16/paragraph-16",
  "json_url": "https://openlegislation.uk/finance-act-2007/schedule-16/paragraph-16.json",
  "legislation": "ukpga/2007/11",
  "legislation_title": "Finance Act 2007",
  "legislation_url": "https://openlegislation.uk/finance-act-2007",
  "path": "schedule/16/paragraph/16",
  "kind": "paragraph",
  "number": "16",
  "heading": null,
  "text": "(1) In Chapter 3 of Part 7 of ICTA—\n(a) in section 289 (eligibility for relief), for subsections (9) to (13) substitute—\n“(9) Section 190 of ITA 2007 (meaning of “qualifying 90% subsidiary”) applies for the purposes of this Chapter.”;\n(b) in section 312(1) (interpretation of Chapter), in the definition of “qualifying 90% subsidiary”, omit “to (13)”.\n(2) In section 190 of ITA 2007 (EIS: meaning of “qualifying 90% subsidiary”), after subsection (1) insert—\n“(1A) For the purposes of this Part, a company (“company A”) which is a subsidiary of another company (“company B”) is a qualifying 90% subsidiary of a third company (“company C”) if—\n(a) company A is a qualifying 90% subsidiary of company B, and company B is a qualifying 100% subsidiary of company C, or\n(b) company A is a qualifying 100% subsidiary of company B, and company B is a qualifying 90% subsidiary of company C.\n(1B) For the purposes of subsection (1A), no account is to be taken of any control company C may have of company A.\n(1C) For those purposes, a company (“company X”) is a qualifying 100% subsidiary of another company (“company Y”) at any time when the conditions in subsection (1)(a) to (e) would be met if—\n(a) company X were the subsidiary,\n(b) company Y were the relevant company, and\n(c) in subsection (1) for “at least 90%” in each place there were substituted “ ;100% ”.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/11/schedule/16/paragraph/16",
    "retrieved_at": "2026-10-29T09:12:51.142391+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."
}