Corporation Tax Act 2010 (c. 4)

Part 21 U.K. Leasing arrangements: finance leases and loans

Chapter 4 U.K. Supplementary provisions

935 Parent undertakings and consolidated group accounts U.K.

(1) This Part has effect in relation to a body corporate that—

(a) is a parent undertaking, but

(b) for accounting purposes is not required to prepare consolidated group accounts in accordance with generally accepted accounting practice,

as if it were so required.

(2) For the purposes of subsection (1) it does not matter where the body corporate is incorporated.

(3) In subsection (1) “parent undertaking” is to be read in accordance with section 1162 of the Companies Act 2006.