A parent undertaking and its subsidiary or subsidiaries. In UK tax law, two or more companies constitute a group where one company holds more than 50% of the shares in the other(s). This test is usually applied to the voting share capital only. Where there is a group of companies, the availability of the lower rates of corporation tax is restricted.
A medium-sized group is a defined financial categorization of companies that meet specific criteria regarding net worth, turnover, and number of employees. This term is used for regulatory and reporting purposes.
