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Capital gain group

Forums › ACCA Forums › ACCA ATX Advanced Taxation Forums › Capital gain group

  • This topic has 4 replies, 2 voices, and was last updated 2 months ago by mrjonbain.
Viewing 5 posts - 1 through 5 (of 5 total)
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  • July 20, 2023 at 7:58 am #688610
    hzahoor
    Participant
    • Topics: 1
    • Replies: 1
    • ☆

    Hi team,

    As per my understanding For capital gain group there must be 75% main holding at every level and an effective hodlding of 50% in subsubsidiaries. and capital gain group can’t be formed without ultimate parent company.

    Question for janus plc group (june 12)

    Janus plc owned 70% shares in Castro ltd and then castro ltd owned 80% shares in the pollux ltd
    In answer , castro and pollux are in 75% capital gain group as pollux is 75% subsidiary of the castro. I am not getting how this group is formed without ultimate parent company.

    July 20, 2023 at 12:48 pm #688635
    mrjonbain
    Moderator
    • Topics: 3
    • Replies: 1851
    • ☆☆☆☆☆

    If a company is itself a 75% subsidiary it can’t be a “parent” company and form its own capital gains group. However, I believe given the facts that you have stated that since castor is a 70% subsidiary it can form it’s own capital gains group. Hope this helps.

    July 21, 2023 at 1:20 am #688662
    mrjonbain
    Moderator
    • Topics: 3
    • Replies: 1851
    • ☆☆☆☆☆

    Welcome to the Opentuition forums.

    July 22, 2023 at 2:26 pm #688733
    hzahoor
    Participant
    • Topics: 1
    • Replies: 1
    • ☆

    Thanks dear.

    July 22, 2023 at 7:44 pm #688742
    mrjonbain
    Moderator
    • Topics: 3
    • Replies: 1851
    • ☆☆☆☆☆

    You are welcome.

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