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Group Relief overseas aspect , HELP!!!!!!!!!!

Forums › ACCA Forums › ACCA ATX Advanced Taxation Forums › Group Relief overseas aspect , HELP!!!!!!!!!!

  • This topic has 0 replies, 1 voice, and was last updated 9 years ago by barbara2012.
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  • September 10, 2016 at 2:09 pm #339680
    barbara2012
    Member
    • Topics: 17
    • Replies: 44
    • ☆☆

    Hi All

    I came across a question during my studies and the answer from the text is as follows:

    UK Trading Profit £100k O/S Profits £140k
    donations (2k)
    total £98,000 140.000
    Less Group Relief (98,000)
    TTP NIL

    Can you explain why the group relief is available on the trading profits? I thought that only losses can be used?

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