Consolidation requirement

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

Didn't find your answer?

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)

Please login or register to join the discussion.

avatar
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.

Thanks (0)
avatar
By charlb
21st Feb 2024 15:32

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

Thanks (0)
Flag of the Soviet Union
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)

Thanks (0)
Replying to thevaliant:
avatar
By charlb
21st Feb 2024 17:18

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

Thanks (0)