{
  "url": "https://openlegislation.uk/finance-act-2024/schedule-12/paragraph-3",
  "json_url": "https://openlegislation.uk/finance-act-2024/schedule-12/paragraph-3.json",
  "legislation": "ukpga/2024/3",
  "legislation_title": "Finance Act 2024",
  "legislation_url": "https://openlegislation.uk/finance-act-2024",
  "path": "schedule/12/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": "Qualifying non-profit subsidiaries",
  "text": "In section 127 (excluded entities), in subsection (5)—\n(a) for paragraph (b) substitute—\n“(b) the revenue (see section 129(5)) of the multinational group of which the entity is a member, excluding the revenues of each member that is a non-profit organisation, a qualifying service entity or a qualifying exempt income entity—\n(i) would not exceed the threshold set out in section 129(4), and\n(ii) is less than 25% of the total revenue of the group, and”, and\n(b) omit paragraph (c) (and the “and” after it).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2024/3/schedule/12/paragraph/3",
    "retrieved_at": "2026-10-29T08:48:28.960167+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."
}