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query on profit limit of 1.5M

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › query on profit limit of 1.5M

  • This topic has 1 reply, 2 voices, and was last updated 4 years ago by Tax Tutor.
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  • May 12, 2021 at 1:28 pm #620398
    Pratibhapahwa4313
    Member
    • Topics: 11
    • Replies: 5
    • ☆

    If one of the company of the group is based overseas, would that profit limit of 1.5M be divided including that overseas company too ? or do we ignore that ?

    thanks in advance sir

    May 15, 2021 at 1:22 pm #620657
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    Yes – overseas companies are included as related 51% group companies for this purpose

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