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Paragraph 10

United Kingdom

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

A company that has one or more subsidiaries is not a qualifying company unless every subsidiary of the company is a qualifying subsidiary (see paragraph 11).

F1(2)

In this paragraph “subsidiary” means any company which the company controls, either on its own or together with any person connected with it.

(3)

For the purpose of sub-paragraph (2), the question whether a person controls a company is to be determined in accordance with F2sections 450 and 451 of CTA 2010 (“control” in the context of close companies).

Annotations

Textual amendments

F1

Sch. 5 para. 10(2)(3) substituted for Sch. 5 para. 10(2) (with effect in accordance with s. 96(6) of the amending Act) by Finance Act 2004 (c. 12), s. 96(3)

F2

Words in Sch. 5 para. 10(3) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 399(2) (with Sch. 2)

Notes on Schedule 5

Modifications

C1

Sch. 5 modified (18.3.2026) by Finance Act 2026 (c. 11), s. 16

C2

Sch. 5 modified (6.4.2026) by Finance Act 2026 (c. 11), s. 13(10)