{
  "url": "https://openlegislation.uk/finance-no-2-act-2023/schedule-16A/paragraph-5",
  "json_url": "https://openlegislation.uk/finance-no-2-act-2023/schedule-16A/paragraph-5.json",
  "legislation": "ukpga/2023/30",
  "legislation_title": "Finance (No. 2) Act 2023",
  "legislation_url": "https://openlegislation.uk/finance-no-2-act-2023",
  "path": "schedule/16A/paragraph/5",
  "kind": "paragraph",
  "number": "5",
  "heading": "Application in the case of investment entities",
  "text": "(1) Chapter 1 of this Part of this Schedule to applies to investment entities and has effect for that purpose as if—\n(a) references to standard members of a multinational group were to members of the group that are investment entities, and\n(b) in paragraph 3—\n(i) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(ii) at the end there were inserted the following disqualifying condition—\n“Condition E is that the qualifying domestic top-up tax applying in the territory—\n(a) does not generally impose a charge on members of the group that are investment entities, and\n(b) does not include provision for a charge to be imposed on such members in circumstances where there would otherwise be an amount of tax that was not charged to any member of the group in that territory.”\n(2) Accordingly, the filing member of a multinational group may make a separate qualifying domestic top-up tax safe harbour election in respect of members of the group that are investment entities.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 16A inserted (with effect for accounting periods beginning on or after 31.12.2023 in accordance with Sch. 12 para. 1(2) of the amending Act) by Finance Act 2024 (c. 3), Sch. 12 para. 41(1)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Sch. 16A para. 5(1)(b)(i) omitted (in relation to accounting periods ending on or after 21.7.2025) by virtue of Finance Act 2026 (c. 11), Sch. 8 paras. 22(4)(a), 53(2)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in Sch. 16A para. 5(1)(b)(ii) substituted (in relation to accounting periods ending on or after 21.7.2025) by Finance Act 2026 (c. 11), Sch. 8 paras. 22(4)(b)(i), 53(2)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Sch. 16A para. 5(1)(b)(ii): the inserted sub-paragraph (7) becomes an inserted unnumbered sub-paragraph (in relation to accounting periods ending on or after 21.7.2025) by Finance Act 2026 (c. 11), Sch. 8 paras. 22(4)(b)(ii), 53(2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2023/30/schedule/16A/paragraph/5",
    "retrieved_at": "2026-10-29T08:52:11.242356+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."
}