# Income and Corporation Taxes Act 1988, Paragraph 17

Extent: E+W+S+N.I.

(1) For the purposes of section 13AB and this Schedule a holding company that is not otherwise carrying on a business shall be deemed to be carrying on a business and to be within the charge to corporation tax.
(2) For this purpose “a holding company” means a company that has one or more 51% subsidiaries from which it receives or has received one or more distributions.

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Source: https://www.legislation.gov.uk/ukpga/1988/1/schedule/A2/paragraph/17 (the official version)
Page: https://openlegislation.uk/income-and-corporation-taxes-act-1988/schedule-A2/paragraph-17
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.