Section 248 Exclusion of indirect interests held through ultimate parent
United Kingdom
For the purposes of determining whether an entity F1or individual has an indirect ownership interest in a member of a multinational group (other than the ultimate parent), ignore any indirect interests arising only as a result of an ownership interest in the ultimate parent.
Annotations
Textual amendments
- F1
Words in s. 248 inserted (22.2.2024 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. 56(7)
Notes on Part 3
Modifications
- C1
Pt. 3 modified (2.12.2025) by Finance Act 2026 (c. 11), Sch. 8 paras. 32, 53(3)