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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Taxation

ISBN: 978-0273730156

15th Edition

Authors: Alan Melville

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