Introduction Overview Overview
3290.This Chapter sets out the circumstances in which one body corporate is regarded for the purposes of the Corporation Tax Acts as a “51% subsidiary”, “75% subsidiary” or “90% subsidiary” of another. It is based on section 838 of ICTA.
3291.The definitions apply in respect of a “body corporate” rather than a “company” as the definition of the latter term in section 1121 includes other types of body to whom these definitions are not relevant. But all bodies corporate in relation to whom the definitions are relevant are companies.