276Application of transitional provision
The transitional provision in Schedule 16 applies in relation to domestic top-up tax as it applies in relation to multinational top-up tax as if—
(a)references in that Schedule to a multinational group were to a group;
(b)where a qualifying entity is a member of a group and all members of the group are located in the United Kingdom, the following provisions of that Schedule (which have no relevance in such a case) were omitted—
(i)paragraph 3(2)(b) and (d), and 3(7) and (8) (country-by-country reporting);
(ii)the words “that are used for preparation of the group’s country-by-country report” in paragraph 4(2);
(iii)paragraph 4(5) (use of statements used for preparation of country-by-country report);
(iv)in paragraph 9(2), the words from “ignoring” to the end.
(c)where a qualifying entity is not a member of a group—
(i)references in that Schedule to a member of a group (however framed and including references to multiple members) were to a qualifying entity;
(ii)references in that Schedule (however framed) to the consolidated financial statements of the ultimate parent were to the qualifying financial statements of the entity;
(iii)paragraph 2 were omitted;
(iv)the provisions mentioned in paragraph (b)(i) to (iv) were omitted.