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Hi team,
As per my understanding For capital gain group there must be 75% main holding at every level and an effective hodlding of 50% in subsubsidiaries. and capital gain group can’t be formed without ultimate parent company.
Question for janus plc group (june 12)
Janus plc owned 70% shares in Castro ltd and then castro ltd owned 80% shares in the pollux ltd
In answer , castro and pollux are in 75% capital gain group as pollux is 75% subsidiary of the castro. I am not getting how this group is formed without ultimate parent company.If a company is itself a 75% subsidiary it can’t be a “parent” company and form its own capital gains group. However, I believe given the facts that you have stated that since castor is a 70% subsidiary it can form it’s own capital gains group. Hope this helps.
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