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Group relief of carried forward losses

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Group relief of carried forward losses

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by JillyB.
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  • August 12, 2023 at 8:30 pm #689805
    tjenkins3005@gmail.com
    Participant
    • Topics: 5
    • Replies: 6
    • ☆

    Hi,

    If a family own 3 separate limited companies and one has carried forward losses……..If they form a group, can the losses be surrendered to a profitable company at the end of the accounting year (assuming same year end)?

    I know that if a company joins an existing group then losses cannot be surrendered for 5 years but this is if they form a group initially together and one has carried forward losses?

    August 14, 2023 at 5:53 pm #689904
    JillyB
    Keymaster
    • Topics: 0
    • Replies: 899
    • ☆☆☆☆

    This is a strange question and one that would never be asked in an exam. It’ll either be a group or not, they will never ask you whether or not they should form a group.

    But if they form a group then losses before they form cannot be group relieved obviously

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