301 Effect of company being transparent
Finance (No 2) Act 2023 (2023 c 30) | Legislation

301  Effect of company being transparent

(1)     This section applies where a company (“C”) is treated as transparent as a result of an election under section 300.

(2)     C is to be treated for the purposes of this Part as if it were a partnership.

(3)     Its shareholders are to be regarded for those purposes as its partners.

(4)     Each shareholder's share of the profits of the partnership is equal to its interest in C.

(5)     Where C is a generating undertaking, all generation, generation receipts and allowable costs that would (ignoring this section) be attributed to C in accordance with this Part are to be treated instead as if they resulted from the operation of a generating station operated in partnership by C's partners.

(6)     Where C is a member

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