SCHEDULES
SCHEDULE 1Minor and consequential amendments
Part 1Income and Corporation Taxes Act 1988
126
After section 576E insert—
576FThe property managing subsidiaries requirement
1
The property managing subsidiaries requirement is that any property managing subsidiary that the company has must be a qualifying 90% subsidiary of the company.
2
In this section—
“property managing subsidiary” has the meaning given by section 188(2) of ITA 2007,
“qualifying 90% subsidiary” has the meaning given by section 190 of that Act.