Consolidation requirement

Overseas parent company with UK subsidiary which in turn has overseas subsidiaries

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The UK subsidiary and it's underlying overseas subsidiaries make up a small group. The group headed by the overseas parent company however is large. Am I right in thinking that the UK subsidiary does not have to prepare consolidated accounts on the basis that it heads up a small group. Or do I need to look at the overall group size when considering if consolidated accounts are required for the UK company?

Thank you in advance. 

Replies (4)

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By Tax is always taxing
20th Feb 2024 09:57

Try section 400/401 of Companies Act

Consolidation of course separate for requirement for an audit.

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By charlb
21st Feb 2024 15:32

Before getting to 400/401 however, does 399 2(A) not apply?

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By thevaliant
21st Feb 2024 16:51

Bit of a memory test but I think:

You don't need to consolidate (small group)
You will need an audit (though I know you haven't asked that)

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Replying to thevaliant:
By charlb
21st Feb 2024 17:18

Thanks - that's in line with my understanding of the situation too.

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