The following Corporation Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
Companies are in the same capital gains group when one company owns at least 75% of the ordinary shares of another company, or when two companies are 75% owned by the same parent. This 75% definition is similar to the rules for group relief but, for group gains purposes, 75% ownership relates to ordinary shares and not to 75% of distributable profits, nor to 75% of assets on a winding-up.
See the Group gains guidance note for further details on the definition of a group for gains purposes.
There are several tax implications associated with being a member of a group. These are summarised below, together with a link to the appropriate guidance note which sets out the detailed legislation relating to each point:
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