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Corporation Tax Act 2010

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Changes over time for: Section 606

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Version Superseded: 22/02/2024

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Point in time view as at 31/01/2013. This version of this provision has been superseded. Help about Status

Changes to legislation:

Corporation Tax Act 2010, Section 606 is up to date with all changes known to be in force on or before 04 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

606GroupsU.K.
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(1)For the purposes of this Part a company (“the principal company”) and all its 75% subsidiaries form a group; and if any of those subsidiaries have 75% subsidiaries the group includes them and their 75% subsidiaries, and so on.

This is subject to subsection (2).

(2)A group does not include—

(a)a company (other than the principal company) which is not an effective 51% subsidiary of the principal company,

(b)an insurance company,

(c)an insurance subsidiary, or

(d)an open-ended investment company.

(3)A company cannot be a member of more than one group; and if a company would be a member of more than one group, section 170(6) of TCGA 1992 (capital gains tax: groups) applies to determine the group of which it is a member.

(4)Subsection (3) does not apply for the purposes of Chapter 10.

(5)In this section—

  • effective 51% subsidiary” has the meaning given by section 170(7) of TCGA 1992 (groups of companies),

  • 75% subsidiary” has the meaning given by section 1154(3) (subsidiaries),

  • insurance company” has the meaning given by [F1section 65 of FA 2012],

  • insurance subsidiary” means a company in which at least 75% of the ordinary shares are held by one or more insurance companies, and

  • open-ended investment company” has the meaning given by section 613.

Textual Amendments

F1Words in s. 606(5) substituted (17.7.2012) by Finance Act 2012 (c. 14), Sch. 16 para. 219

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