- This topic has 6 replies, 2 voices, and was last updated 1 month ago by
.
- Posts
this is a qtn from kaplan kit
fogo ltd owns 100% subsidiary netta ltd. fogo sold a warehouse nd this gain is rolled over into purchase of fixed plant nd machinery by netta ltd select which f the followng will not result in the gain becoming chargeable:
a)netta lts selling the fixed plant nd machinery
b)fogo selling the shareholding in netta ltd
c)netta ceasing to use the machine in trade
d)10 yrs since purchase of machinerycan u explain the ans i didnt understand the explanaion they gave
The answer is (b) as the other three are events that trigger a gain, which has been deferred against the acquisition of fixed P&M, becoming chargeable.
but for the grp claim 75% is necessary right. how is leaving the claim possible?
another qtn of grp relief. for grp rollover relief claim, when shld it be made? for a normal comp it is within 4 yrs from end of acctng period in which assets r sold nd replaced(whichver is later) right. is it the same for grp rollover relief too?
- You must be logged in to reply to this topic.