{
  "url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-7AC/paragraph-26",
  "json_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992/schedule-7AC/paragraph-26.json",
  "legislation": "ukpga/1992/12",
  "legislation_title": "Taxation of Chargeable Gains Act 1992",
  "legislation_url": "https://openlegislation.uk/taxation-of-chargeable-gains-act-1992",
  "path": "schedule/7AC/paragraph/26",
  "kind": "paragraph",
  "number": "26",
  "heading": null,
  "text": "(1) In this Schedule—\n(a) “company” has the meaning given by section 170(9); and\n(b) references to a group, or to membership of a group, shall be construed in accordance with the provisions of section 170 read as if “51 per cent\" were substituted for “75 per cent\".\n(2) References in this Schedule to a “subgroup” are to companies that would form a group but for the fact that one of them is a 51% subsidiary of another company.\n(3) In this Schedule “holding company”—\n(a) in relation to a group, means the company described in section 170 as the principal company of the group;\n(b) in relation to a subgroup, means a company that would be the holding company of a group but for being a 51% subsidiary of another company.\n(4) In this Schedule “51% subsidiary” has the meaning given by Chapter 3 of Part 24 of CTA 2010.\nIn applying that Chapter for the purposes of this Schedule, any share capital of a registered society (see section 1119 of that Act) shall be treated as ordinary share capital.\n(5) References in this Schedule to a “group” or “subsidiary” shall be construed with any necessary modifications where applied to a company incorporated under the law of a country or territory outside the United Kingdom.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 7AC inserted (with effect in accordance with s. 44(3)(4) of the amending Act) by Finance Act 2002 (c. 23), Sch. 8 para. 1"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 7AC para. 26(4) 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. 269(5)(a) (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in Sch. 7AC para. 26(4) 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. 269(5)(b) (with Sch. 2)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in Sch. 7AC para. 26(4) substituted (1.8.2014) by Co-operative and Community Benefit Societies Act 2014 (c. 14), s. 154, Sch. 4 para. 53 (with Sch. 5) (as amended (1.8.2014) by Finance Act 2014 (c. 26), Sch. 39 paras. 7, 15)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1992/12/schedule/7AC/paragraph/26",
    "retrieved_at": "2026-11-14T03:34:05.925206+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."
}