Basenote Ltd is a 100% subsidiary of Apexine Ltd. There are no other subsidiaries. Both companies are

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Basenote Ltd is a 100% subsidiary of Apexine Ltd. There are no other subsidiaries. Both companies are UK resident and prepare accounts to 31 March each year. Results for the year to 31 March 2024 are as follows:

Calculate the amount of tax that will be saved if Apexine Ltd claims maximum group relief. Also calculate the effective rate of tax relief.

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Taxation Finance Act 2023

ISBN: 9781292461083

29th Edition

Authors: Alan Melville

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Question Posted: May 03, 2024 07:00 AM

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Basenote Ltd is a 100% subsidiary of Apexine Ltd. There are no other subsidiaries. Both companies are

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Without group relief Apexine Ltd has taxable total profits and augment...View the full answer

Taxation Finance Act 2023

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