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Income Tax (Earnings and Pensions) Act 2003

Paragraph 11: Meaning of “qualifying subsidiary”

3478.This paragraph derives from paragraph 15 of Schedule 14 to FA 2000.

3479.This paragraph sets out the conditions that must be met if a company is to be a qualifying subsidiary of the company that controls it. The parent company cannot have ownership of less than 75% of a subsidiary.

3480.Sub-paragraph (3) extends the reference to “holding company” in sub-paragraph (2). See Change 174 in Annex 1.

3481.The paragraph also sets out how this requirement applies to particular circumstances such as when a subsidiary company is being wound up.

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