A company that has one or more subsidiaries is not a qualifying company unless every subsidiary of the company is a qualifying subsidiary (see paragraph 11).

In this paragraph “subsidiary” means any company which the company controls, either on its own or together with any person connected with it.

For the purpose of sub-paragraph (2), the question whether a person controls a company is to be determined in accordance with F2sections 450 and 451 of CTA 2010 (“control” in the context of close companies).