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Apologies ,I made a little mistake in asking the question,
The white Ltd
Trading profit 0Property business profit 26700
Total income 26700
QCD -5600
Brought forward trading loss -21800
Sum———– -700this 700 is the unrelieved Brought forward trading loss of White Ltd. however in the Study hub’s answer only the current year -351300 loss of white can be transferred and not the -352000(351300+700)
please explain to me why the Brought forward trading loss of 700 couldn’t be transferred when we could surrender b/f trading loss of corresponding accounting period to the claimant companyyes I understand that the capital loss of 12,600 cannot be relieved within the group as it is brought forward but why about the 17,200 Capital loss of white Ltd of current year? Please explain to me why we are unable to surrender that despite it being current year capital loss
Also Thank you so much for the responses, I have TX and FM attempts this September and your replies help a lot professor!
I see , Thank you for the response. I am still trying to grasp it but I am truly grateful for the assistance.
However, since it is a cost for the employer, shouldn’t it be seen as a taxable benefit for the employee? please help me in comprehending the reasoning behind this.
The above question is from Study Hub and yes I have watched open Tuition lectures and manual notes yet I am unable to understand Why can’t we transfer the remaining QCD of 700 after deducting property profit with bf trading loss and QCD in group relief claim, when partial deduction is allowed? The rule states we can’t claim both QCD and bf trading loss. Can you please provide me with an explanation for the reason?
Also In the capital gains group, we are able to offset current year capital losses, but not in a group relief claim. Please clarify why this is the case, as the company still holds over 50% ownership.they simply added the value of OCI I.e 2800+3000 and didn’t take account of 8000 at all
