227Application of Part to joint venture groupsU.K.
(1)This Part applies to a joint venture group as it applies to a multinational group, but Chapters 3 to 6 and 8 of this Part and [F1Schedules 16 and 16A] apply as if—
(a)references to the ultimate parent were to the joint venture parent of that group,
(b)references to a member of a multinational group were to the members of the joint venture group, and.
(c)references to the filing member were to the filing member of the multinational group whose ultimate parent holds at least 50% of the ownership interests in the joint venture parent.
(2)For the purposes of the other provisions of this Part, the members of the joint venture group are treated as members of [F2each multinational group] whose ultimate parent directly or indirectly holds at least 50% of the ownership interests in the joint venture parent.
(3)But no member of the joint venture group is to be regarded as an intermediate parent member or a partially owned parent member of that group.
Textual Amendments
F1Words in s. 227(1) substituted (22.2.2024 with effect for accounting periods beginning on or after 31.12.2023 in accordance with Sch. 12 para. 1(2) of the amending Act) by Finance Act 2024 (c. 3), Sch. 12 para. 41(2)
F2Words in s. 227(2) substituted (22.2.2024 with effect for accounting periods beginning on or after 31.12.2023 in accordance with Sch. 12 para. 1(2) of the amending Act) by Finance Act 2024 (c. 3), Sch. 12 para. 30