{
  "url": "https://openlegislation.uk/finance-no-2-act-2023/section-229A",
  "json_url": "https://openlegislation.uk/finance-no-2-act-2023/section-229A.json",
  "legislation": "ukpga/2023/30",
  "legislation_title": "Finance (No. 2) Act 2023",
  "legislation_url": "https://openlegislation.uk/finance-no-2-act-2023",
  "path": "section/229A",
  "kind": "section",
  "number": "229A",
  "heading": "Meaning of potentially undertaxed",
  "text": "(1) The top-up amount and additional top-up amounts of a member (“M”) of a multinational group for an accounting period are “potentially undertaxed” if—\n(a) M is the ultimate parent or is located in the same territory as the ultimate parent, or\n(b) the ultimate parent is not a responsible member.\n(2) Subsection (1) does not apply if—\n(a) the ultimate parent is not a responsible member,\n(b) none of the ownership interests of the ultimate parent in M are direct ownership interests, and\n(c) every indirect ownership interest the ultimate parent has in M is derived from an ownership interest the ultimate parent has in a responsible member.\n(3) Subsection (1) also does not apply if—\n(a) the ultimate parent is located in a territory in which a DIIR is in force and is a responsible member, and\n(b) M is located in the same territory as the ultimate parent.\n(4) This section and section 229B do not apply to members of a joint venture group (but see section 229I for alternative provision).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 3 Ch. 9A inserted (in relation to accounting periods commencing on or after 31.12.2024) by Finance Act 2025 (c. 8), Sch. 4 paras. 5, 10"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2023/30/section/229A",
    "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."
}