28.5 The ordinary share capital of PP Ltd (a UK trading company) is owned 32% by QQ...
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28.5 The ordinary share capital of PP Ltd (a UK trading company) is owned 32% by QQ Ltd, 35% by RR Ltd, 23% by SS Ltd. The remaining 10% is owned by various individuals, none of whom own more than 1%. All companies are UK resident and prepare accounts to 31 July annually. Results for the year to 31 July 2009 are as follows:
PP Ltd QQ Ltd RR Ltd SS Ltd
£ £ £ £
Trading profit/(loss) (96,000) 41,000 38,000 11,000 Chargeable gains - 15,000 - -
Bank interest receivable 12,000 6,000 11,000 4,000 Charges paid - (3,000) (2,000) (1,000)
Compute the maximum possible group relief claims.
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