Related Commentary  Related HMRC Manuals

26(1)  In this Schedule–

(a)company”  has the meaning given by section 170(9); and

(b)references to a group, or to membership of a group, shall be construed in accordance with the provisions of section 170 read as if “51 per cent” were substituted for “75 per cent”.

26(2)  References in this Schedule to a “subgroup”  are to companies that would form a group but for the fact that one of them is a 51% subsidiary of another company.

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