208 Member joining or leaving multinational group
Finance (No 2) Act 2023 (2023 c 30) | Legislation

Restructuring of groups

208  Member joining or leaving multinational group

(1)     Subsection (2) applies to an entity where, in an accounting period (“the transfer period”) of a multinational group, the entity—

(a)     becomes a member of that multinational group (including, where it was previously a member of a different group, as a result of it becoming the ultimate parent of a new group), or

(b)     ceases to be a member of that multinational group.

(2)     The entity is to be treated as a member of that group for the whole of the transfer period (whether or not that results in it being treated as a member of two or more groups) if any portion of its assets, liabilities, income, expenses or cash flows are included on a line-by-line basis in the consolidated financial statements of the ultimate parent for that period.

(3)     But in applying this Part in relation to the entity as a member of the multinational group it has become or ceased to be a member

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