{
  "url": "https://openlegislation.uk/finance-no-2-act-2023/schedule-16A/paragraph-8",
  "json_url": "https://openlegislation.uk/finance-no-2-act-2023/schedule-16A/paragraph-8.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/8",
  "kind": "paragraph",
  "number": "8",
  "heading": "Election in respect of non-material members",
  "text": "(1) The filing member of a multinational group may for an accounting period make an election under this paragraph in respect of one or more members of the group in a territory.\n(2) An election may be made only if for the accounting period in question—\n(a) the specified members are non-material members of the group,\n(b) the accounting conditions are met, and\n(c) any of the following is met—\n(i) the routine profits test;\n(ii) the de minimis test;\n(iii) the effective tax rate test.\n(3) Where an election is made, the total top-up amount for the accounting period for the territory is assumed to be nil for the purpose of determining the liability of any member of the group to multinational top-up tax.\n(4) Paragraph 2 of Schedule 15 (annual elections) applies to an election under this paragraph.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 16A Pt. 3 inserted (with effect in accordance with Sch. 8 para. 53(5)-(13) of the amending Act) by Finance Act 2026 (c. 11), Sch. 8 paras. 39, 53(5)-(13)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2023/30/schedule/16A/paragraph/8",
    "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."
}