Chapter 20: Groups of companies

Question 1

Group relief group

The following can be relieved efficiently within the group:

Answer 1

Trade losses, and
Excess QCDs, and
Excess property business losses

Question 2

Group relief group is available if

Answer 2

one company owns at least 75% of the ordinary share capital of the other

Indirect holdings are taken into account provided the overall 75% ownership is preserved

Question 3

Group relief group can surrender

Answer 3

Trading loss
-current period
-Brought forward losses to the extent they cannot be used against the surrendering company’s own total profit

Excess QCDs

Excess Property Business losses
-current period and brought forward

Question 4

Group relief - before or after QCD

Answer 4

After

Question 5

Maximum group relief claim is the lower of

Answer 5

Loss of the overlap period

Profit of the overlap period

Question 6

Gains group

Answer 6

75% directly, 50% indirectly

Question 7

Can a company be a member of two capital gains group and two group relief groups?

Answer 7

Group relief groups - Yes

Gains group - No

Question 8

Intra group transfers of assets is at what

Answer 8

No gain, No loss

Question 9

Transferable of chargeable gains and allowable losses

Answer 9

Joint election, claim be made within two years of the end of the accounting period in which the gain or loss being transferred arose