OpenLegislation

Paragraph 8

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

(1)

A “group other than an MNE group” means a group consisting of two or more relevant bodies—

(a)

each of which is a member of the group by virtue of sub-paragraph (3) or (4),

(b)

at least two of which are UK companies,

which is not an MNE Group.

(2)

For the purposes of the condition in sub-paragraph (1)(b) a UK permanent establishment of a foreign member of a group is to be treated as if it were a UK company and a member of the group.

(3)

A relevant body is a member of a group if—

(a)

another relevant body is its 51% subsidiary, or

(b)

it is a 51% subsidiary of another relevant body.

(4)

Two relevant bodies are members of the same group if—

(a)

one is a 51% subsidiary of the other, or

(b)

both are 51% subsidiaries of another relevant body.

(5)

Chapter 3 of Part 24 of CTA 2010 (meaning of 51% subsidiary) applies for the purposes of this Schedule as it applies for the purposes of the Corporation Tax Acts (but with the modification in sub-paragraph (6)).

(6)

It applies as if references to a body corporate were references to a relevant body.