231Meaning of entityU.K.
(1)In this Part “entity” means—
(a)a company, [F1or]
F2(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F3(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(d)any F4... arrangement that results in the preparation of separate financial accounts in respect of the activities carried out under the arrangement [F5(such as a partnership or trust)].
(2)An entity which is, or is part of, a national, regional or local government is not to be regarded as an entity for the purposes of this Part.
(3)Sections 232 to 238 make further provision about entities including provision—
(a)treating permanent establishments as entities,
(b)defining various particular types of entities, and
(c)about when entities are “tax transparent”.
Textual Amendments
F1Word in s. 231(1) inserted (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. 56(1)(a)
F2S. 231(1)(b) omitted (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 virtue of Finance Act 2024 (c. 3), Sch. 12 para. 56(1)(b)
F3S. 231(1)(c) omitted (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 virtue of Finance Act 2024 (c. 3), Sch. 12 para. 56(1)(b)
F4Word in s. 231(1)(d) omitted (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 virtue of Finance Act 2024 (c. 3), Sch. 12 para. 56(1)(c)(i)
F5Words in s. 231(1)(d) inserted (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. 56(1)(c)(ii)