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Yn ddilys o 01/04/2015
43SCompanies are members of the same group if one is the 75% subsidiary of the other or both are 75% subsidiaries of a third company.
44SA company (A) is the 75% subsidiary of another company (B) if B—
(a)is beneficial owner of not less than 75% of the ordinary share capital of A,
(b)is beneficially entitled to not less than 75% of any profits available for distribution to equity holders of A, and
(c)would be beneficially entitled to not less than 75% of any assets of A available for distribution to its equity holders on a winding-up.
45SFor the purposes of paragraph 44(a)—
(a)the ownership referred to is ownership either directly or through another company or companies,
(b)the amount of ordinary share capital of A owned by B through another company or companies is to be determined in accordance with sections 1155 to 1157 of the Corporation Tax Act 2010 (c.4).
46S“ ”, in relation to a company, means all the issued share capital (by whatever name called) of the company, other than capital the holders of which have a right to a dividend at a fixed rate but have no other right to share in the profits of the company.
47SChapter 6 of Part 5 of the Corporation Tax Act 2010 (c.4) (group relief: equity holders and profits or assets available for distribution) applies for the purposes of paragraph 44(b) and (c) as it applies for the purposes of section 151(4)(a) and (b) of that Act.
48SBut sections 171(1)(b) and (3), 173, 174 and 176 to 178 of that Chapter are to be treated as omitted for the purposes of paragraph 44(b) and (c).
49SIn this schedule—
“arrangements” includes any scheme, agreement or understanding, whether or not legally enforceable,
“company” means a body corporate.