Part 5 Group relief

Chapter 7 Miscellaneous provisions and interpretation of Part

Interpretation

185 “Trading company” and “holding company”
(1) In this Part “trading company” means a company the business of which consists wholly or mainly in the carrying on of a trade or trades.
(2) In this Part “holding company” means a company the business of which consists wholly or mainly in the holding of shares or securities of companies that—
(a) are its 90% subsidiaries (see section 151), and
(b) are trading companies.