Basenote Ltd is a wholly-owned subsidiary of Apexine Ltd. Both companies are UK resident and prepare accounts

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Basenote Ltd is a wholly-owned subsidiary of Apexine Ltd. Both companies are UK resident and prepare accounts to 31 March each year. Results for the year to 31 March 2023 are as follows:

Apexine Ltd Basenote Ltd

£ £

Trading profit/(loss) 120,000 (90,000)

Income from property 7,000 3,000 Gift Aid donations 12,000 4,000 Calculate the maximum group relief that may be claimed for the year by Apexine Ltd.

What difference would it make if Basenote Ltd also had carried-forward trading losses from the previous year of £20,000?

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Taxation Finance Act 2022

ISBN: 9781292439532

28th Edition

Authors: Alan Melville

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Question Posted: Sep 04, 2024 10:03 AM

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Basenote Ltd is a wholly-owned subsidiary of Apexine Ltd. Both companies are UK resident and prepare accounts

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Taxation Finance Act 2022

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