Finance (No. 2) Act 2023 (c. 30)

Part 3 U.K. Multinational top-up tax

Chapter 10 U.K. Definitions etc

Ownership of entities U.K.

248 Exclusion of indirect interests held through ultimate parent U.K.

For the purposes of determining whether an entity 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.