Armco1 Ltd and Armco2 Ltd are 100% subsidiaries of Headco Ltd, which has no other subsidiaries. They

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Armco1 Ltd and Armco2 Ltd are 100% subsidiaries of Headco Ltd, which has no other subsidiaries. They are all UK resident and the group has existed for several years. How will the relationship of the three companies affect the way in which they are taxed?

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