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Hi,
I am trying to do the Corporation Tax question on the June 2014 past paper which is question 2 and I don’t know where they have derived a figure from.
Its calculating the Corporation Tax computation for Long how did they get the group relief figure from Road Ltd as (34,900).
If you could explain I would really appreciate it.
Thanking you in advance,
CPN
It is simply the adjusted trading loss of Road being used in a group relief claim against the TTP of Long. The reason why a group relief claim is being made rather than using the loss within Road itself is because a higher rate of CT is being paid in Long compared to Road and its use will not involve wasting qualifying charitable donations as would happen within Road
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