Part 4 Minor and Technical Changes
Finance Act 2024 (2024 c 3) | Legislation

Part 4 Minor and Technical Changes

Chapter 2 of Part 3 (qualifying multinational groups and their members)

48

(1)     In section 127(12) (excluded entities) for “pensions service†substitute “pension servicesâ€.

(2)     In section 128 (responsible members)—

(a)     in subsection (2)—

(i)     for “its members†substitute “the members of the groupâ€, and

(ii)     for “it†substitute “the ultimate parentâ€, and

(b)     in subsection (7)—

(i)     in the words before paragraph (a), after “tax†insert “for an accounting periodâ€,

(ii)     in paragraph (a), at the beginning insert “the period commences on or after 31 December 2023 andâ€, and

(iii)     in paragraph (b), in sub-paragraph (i), after “force†insert “for the periodâ€.

(3)     In section 130 (change in composition of multinational group), in subsection (5)—

(a)     after “in†insert “all, or substantially all, of the members ofâ€, and

(b)     after “becoming†insert “members ofâ€.

Chapter 3 of Part 3 (effective tax rate)

49

(1)     In section 132(2) (effective tax rate), in the words after paragraph (c) for “164†substitute “174â€.

Chapter 4 of Part 3 (calculation of adjusted profits)

50

(1)     In section 138(1) (profits adjusted to be before tax), omit “itsâ€.

(2)

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