Paragraph 3 “Group”

United Kingdom

(1)

A company is a member of a group if—

(a)

another company is its 51% subsidiary, or

(b)

it is a 51% subsidiary of another company.

(2)

Two companies are members of the same group if—

(a)

one is a 51% subsidiary of the other, or

(b)

both are 51% subsidiaries of another company.

(3)

Sub-paragraph (4) applies where a company (“Q”)—

(a)

is a qualifying asset holding company for the purposes of Schedule 2 to this Act, and

(b)

is a member of a worldwide group, within the meaning given by section 473 of TIOPA 2010.

(4)

Another company is not a member of the same group as Q for the purposes of this Schedule if, by virtue of paragraph 42(2)(a) of Schedule 2 to this Act, that other company is not a member of the same worldwide group as Q for the purposes of Part 10 of TIOPA 2010 (corporate interest restriction).

(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.