Question:
In a group situation, if we are not filing consolidated accounts for the individual companies, do we need to file the consolidated accounts for the parent company?
There is no Section 357 Guarantee in place.
Answer:
If there is no section 357 guarantee in place then the normal filing regime would apply (ie. the parent company files its statutory accounts (consolidated accounts) and the subsidiaries file their statutory accounts (standalone accounts for that entity).
The option to file consolidated accounts for the subsidiary would only be present if the S.357 guarantee is put in place.