E Group Relief Examiner Approach Flashcards
1
Q
1st step?
A
Give priority to relief of losses that can only be relieved in a specific way (e.g. capital losses)
2
Q
2nd step?
A
Identify best option to relief the loss and determine maximum group relief for each claimant company
3
Q
Options to relief the loss?
A
A current year claim or current year and a prior year claim
Carry the loss forward
Group relieve the loss
4
Q
3rd step?
A
If relief can be restricted, claim initially against profits subject to the marginal rate of 26.5%
5
Q
4th step?
A
Ensure qualifying charitable donations are not wasted, where possible
6
Q
What happens to dividends from a non-group company?
A
Added to taxable total profits
