246 Calculating percentage direct and indirect ownership interests
Finance (No 2) Act 2023 (2023 c 30) | Legislation

246  Calculating percentage direct and indirect ownership interests

(1)     To determine the percentage of direct ownership interest an entity or individual (“E”) has in an entity (“F”)—

(a)     add together the proportional entitlement of E to the following types of interest that are relevant—

(i)     an interest that gives rise to a share of profits of F,

(ii)     an interest that gives rise to a share of the capital of F, and

(iii)     an interest that gives rise to a share of the reserves of F, and

(b)     if—

(i)     F issues all of those types of interest and all of those types are relevant, divide the result of paragraph (a)

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