Income Tax (Earnings and Pensions) Act 2003

The gross assets requirementU.K.

12(1)The gross assets requirement in the case of a single company is that the value of the company’s gross assets does not exceed £30 million.U.K.

(2)The gross assets requirement in the case of a parent company is that the value of the group assets does not exceed £30 million.

(3)The “value of the group assets” means the aggregate of the values of the gross assets of each of the members of the group, disregarding any that consist in rights against, or shares in or securities of, another member of the group.