Section 40 — Finance Act 2014: Determination of beneficial entitlement for purposes of group relief

Determination of beneficial entitlement for purposes of group relief 40 1 CTA 2010 is amended as follows.

2 In section 169 (interpretation of provisions to determine proportion of beneficial entitlement)—

a in subsection (2), for the definition of “arrangements” substitute— “arrangements”—

a means arrangements of any kind (whether or not in writing), but b does not include a condition or requirement imposed by, or agreed with, a Minister of the Crown, the Scottish Ministers, a Northern Ireland department or a statutory body, , and b after that subsection insert— 3 In subsection (2) “ statutory body ” means a body (other than a company as defined by section 1(1) of the Companies Act 2006) established by or under a statutory provision for the purpose of carrying out functions conferred on it by or under a statutory provision, except that the Treasury may, by order, specify that a body is or is not to be a statutory body for this purpose.

3 In section 188 (other definitions for Part 5), in subsection (1), in the definition of “company” for “section 156(2A)” substitute “ sections 156(2A) and 169(3) ” .

4 The amendments made by this section have effect in relation to accounting periods ending on or after 1 January 2015.