QCDS

Hi Jilly,

In the following example the answer is very straightforward since the other income is less than the cap of 50000,but why the QCDs are not to be adjusted before the loss relieve and not to waste them?

Thanks.

Oblong Ltd has had the following results:

Year ended 31 March 2023 Year ended 31 March 2024
(£) (£)

Trading profit/(loss)

79,400 (102,800)

Property business income

6,800 10,100

Qualifying charitable donations

(1,600) (1,300)

If Oblong Ltd makes a claim to relieve its trading loss of £102,800 for the year ended 31 March 2024 against total profits for the year ended 31 March 2023, how much of this loss will remain unrelieved?

Answer
102,800 – 10,100 – 79,400 – 6,800 = £6,500