{
  "url": "https://openlegislation.uk/finance-act-2026/schedule-7/paragraph-5",
  "json_url": "https://openlegislation.uk/finance-act-2026/schedule-7/paragraph-5.json",
  "legislation": "ukpga/2026/11",
  "legislation_title": "Finance Act 2026",
  "legislation_url": "https://openlegislation.uk/finance-act-2026",
  "path": "schedule/7/paragraph/5",
  "kind": "paragraph",
  "number": "5",
  "heading": "Attribution of profits",
  "text": "(1) Section 21 (the separate enterprise principle) is amended as follows.\n(2) In subsection (1)—\n(a) for “would have made” substitute “might be expected to make”, and\n(b) for the words from “distinct” to the end substitute “separate and independent enterprise engaged in the same or similar activities under the same or similar conditions, taking into account the functions performed, assets used and risks assumed by the non-UK resident company through the permanent establishment and through the other parts of the non-UK resident company”.\n(3) Omit subsection (3).",
  "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/2026/11/schedule/7/paragraph/5",
    "retrieved_at": "2026-10-29T08:42:24.914774+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."
}