# Finance Act 2011, Paragraph 15J


(1) This paragraph applies in relation to a UK sub-group if—
(a) each member of the UK sub-group is a UK resident entity,
(b) none of those members is a designated FPE entity, and
(c) the relevant group’s responsible member has not made an entity-by-entity election (see paragraph 15L) in relation to the UK sub-group.
(2) The assets, equity and liabilities, as at the end of the chargeable period, of the UK sub-group are to be determined by reference to the amounts recognised in the sub-group’s consolidated financial statements for the chargeable period.
(3) To determine the UK-based equity and liabilities of the UK sub-group, as at the end of the chargeable period—
(a) determine the amount of the UK sub-group’s equity and liabilities in accordance with sub-paragraph (2), and
(b) adjust that amount in accordance with paragraph 15N.

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Source: https://www.legislation.gov.uk/ukpga/2011/11/schedule/19/paragraph/15GJ (the official version)
Page: https://openlegislation.uk/finance-act-2011/schedule-19/paragraph-15GJ
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.