Income and Corporation Taxes Act 1988

Holding companies treated as carrying on a businessU.K.

17(1)For the purposes of section 13AB and this Schedule a holding company that is not otherwise carrying on a business shall be deemed to be carrying on a business and to be within the charge to corporation tax.

(2)For this purpose “a holding company” means a company that has one or more 51% subsidiaries from which it receives or has received one or more distributions.