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Group relief

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Group relief

  • This topic has 2 replies, 2 voices, and was last updated 13 years ago by polldoll.
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  • Author
    Posts
  • November 29, 2011 at 1:09 am #50769
    polldoll
    Member
    • Topics: 10
    • Replies: 52
    • ☆☆

    If A controls B and C, can losses of B be relieved against profits of C or do they have to be relieved against profits of A?
    I am looking at BPP’s answer to Q. 46 part (b) of the revision kit where, in 2010/11, A pays CT at main rate and C at marginal rate. I thought B’s loss should be relieved against C to bring down to lower threshold, then remainder relieved against A.
    Thanks for your help.

    December 3, 2011 at 7:05 pm #90363
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    In year ended 31/3/10 there are only 3 associated companies so the lower limit is £100,000 and C ltd is paying at 21% not 29.75%. In year ended 31/3/11 when Delicious Ltd is acquired there are then 4 associated companies so the lower limit is then £75,000
    Hope this helps

    December 4, 2011 at 9:52 am #90364
    polldoll
    Member
    • Topics: 10
    • Replies: 52
    • ☆☆

    Thanks, makes much more sense now!

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