Bassnote Ltd is a wholly -owned subsidiary of Apexine Ltd. Both companies are UK resident and prepare

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Bassnote Ltd is a wholly -owned subsidiary of Apexine Ltd. Both companies are UK resident and prepare accounts to 31 March each year . The results for the year to 31 March 2018 are as follows:

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Taxation Finance Act 2017

ISBN: 9781292200804

23rd Edition

Authors: Alan Melville

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Question Posted: Feb 07, 2024 08:28 AM

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Bassnote Ltd is a wholly -owned subsidiary of Apexine Ltd. Both companies are UK resident and prepare

Question:

Apexine Ltd Bassnote Ltd 120,000 (90,000) Trading profit/(loss) Trading losses brought forward (42,000) (19,000) Income from property 7,000 3,000 Gift Aid donations 12,000 4,000 Calculate the maximum group relief that may be claimed for the year by Apexine Ltd.

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Taxation Finance Act 2017

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