248Exclusion of indirect interests held through ultimate parentU.K.
For the purposes of determining whether an entity [F1or individual] has an indirect ownership interest in a member of a multinational group (other than the ultimate parent), ignore any indirect interests arising only as a result of an ownership interest in the ultimate parent.
Textual Amendments
F1Words in s. 248 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(7)