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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 5 years ago by Tax Tutor.
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • February 29, 2020 at 11:23 am #563537
    adarsh1997
    Participant
    • Topics: 646
    • Replies: 282
    • ☆☆☆☆

    Hello.

    BPP has the following question:
    In the year ended 31 March 2017, Greenwich plc had the following result:
    Trading loss: (68,000)
    Capital loss: (4000)
    Interest income: 5000
    Qualifying charitable donation: (3000)
    The question is : what is the maximum amount that Greenwich could surrender as the group relief of the year ended 31 March 2017:
    a) 68,000
    b)70,000
    c)71,000
    d)75,000

    The answer in the BPP-book is 68,000+ 2,000=70,000, however, as the QCD of 3000 does not exceed interest income of 5,000, so QCD is not classified as unrelieved, therefore, i think the answer should be 68,000
    Please help me to answer this question.
    Thank you!

    March 1, 2020 at 9:55 am #563618
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Agreed – only excess QCD may be group relieved – I assume that the question has got the 3,000 and the 5,000 the wrong way around!

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