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This guidance note explains how BPR applies to holding companies and to groups of companies. Without special provision, a holding company would not qualify for BPR as it is not in its own right a trading company and this guidance note covers how and when a holding company will qualify. It also considers the approach to be taken to a group scenario when assessing the BPR status of a shareholding. This covers the assessment of the trading status of the group first and then of each individual subsidiary. If a subsidiary is not a trading company in its own right then its value is disregarded. It consolidates and links to the guidance in this area, much of which is included in various correspondence between HMRC and the professional bodies.