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Group relief

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

  • This topic has 1 reply, 2 voices, and was last updated 2 years ago by JillyB.
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  • May 29, 2023 at 6:32 pm #685407
    krrish2005
    Participant
    • Topics: 138
    • Replies: 229
    • ☆☆☆

    The carried forward losses can be surrendered only to the extent that it cannot use against it’s own total profits of current year.
    My doubt what there is also current year loss
    Example
    Trading loss 15000
    Other income 45000
    Carry forward losses 60000
    Now what is the extent for group transfer
    1) 45000-15000(suppose current year claim made) , so the rest 30000(60000-30000) OR
    2) 15000(60000-45000)

    May 30, 2023 at 10:36 am #685458
    JillyB
    Keymaster
    • Topics: 0
    • Replies: 899
    • ☆☆☆☆

    I’m not sure I understand the question but if there is no profit in the current year then the losses will be carried forward together with the loss in the current year.

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