Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Group Relief
- This topic has 5 replies, 3 voices, and was last updated 9 years ago by Tax Tutor.
- AuthorPosts
- May 8, 2015 at 10:42 am #244779
Group Relief:
Could you please explain why in your e..g with villa when you used
£500,000 as trading profit against the £400,000 loss in V you stated current + carry back relief when only current year losses can be relieved in respect of group? I got lost on that tax saving bit.
ThanksMay 12, 2015 at 9:30 pm #245588Can you please tell me what part of the lecture on group relief you are referring to so that I can check it out for you and give you a response – thanks
May 19, 2015 at 8:12 pm #247249Overseas companies can’t surrender or receive any loss reliefs but can gains be given to o/seas companies?
May 20, 2015 at 5:45 pm #247440No group relief and no gains group membership but this will not be tested at F6.
May 20, 2015 at 9:48 pm #247484Its actually a P6 query but no forum for that.
Thanks
May 24, 2015 at 11:58 am #248390At P6 the same basic rules apply but with the following exceptions:
If an overseas resident subsidiary (75%) makes a loss then it will only be available for group relief if the company is resident in the EEA AND has NO other possible uses of the loss
If an overseas resident sub operates in the UK through a branch then the branch will be eligible for group relief with any other UK group members and it will also be in the same gains group as other UK group members - AuthorPosts
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