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.