Paragraph 6 F1

P's “indirect shareholding percentage” is found by—

(a)

calculating the percentage of the ordinary share capital of the joint venture company that is owned indirectly by P through a particular investing company (see paragraph 7), and

(b)

where there are two or more investing companies, adding those percentages together.

Annotations

Textual amendments

F1: Sch. 7ZA inserted (with effect in accordance with Sch. 13 para. 6(1) of the amending Act) by Finance Act 2016 (c. 24), Sch. 13 para. 5

Notes on Schedule 7ZA

Textual amendments

F2: Words in Act substituted (with effect for the tax year 2020-21 and subsequent tax years) by Finance Act 2020 (c. 14), Sch. 3 paras. 7(2)(a), 8 (with Sch. 3 para. 7(3))