Question: The ordinary share capital of PP Ltd (a trading company) is owned 32% by QQ Ltd, 35% by RR Ltd, 23% by SS Ltd. The

The ordinary share capital of PP Ltd (a 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. Results for the year to 31 July 2017 are as follows:

PP Ltd (96,000) 12,000 QQ Ltd Trading profit/(loss) Chargeable gains Income from

PP Ltd (96,000) 12,000 QQ Ltd Trading profit/(loss) Chargeable gains Income from property Gift Aid donations Compute the maximum possible group relief claims. 41,000 15,000 6,000 (3,000) RR Ltd 38,000 11,000 (2,000) SS Ltd 11,000 4,000 (1,000)

Step by Step Solution

★★★★★

3.51 Rating (154 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

I see here that you have provided a financial summary of several companies along with their ownership structure and you have asked to compute the maxi... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Taxation of Individuals Questions!

Q:

The ordinary share capital of PP Ltd (a trading company) is owned 32% by QQ Ltd, 35% by RR Ltd and 23% by SS Ltd. The remaining 10% is owned by various individuals, none of whom own more than 1%. All...

Q:

The ordinary share capital of W Ltd (which is a trading company) is owned 30% by X Ltd, 25% by Y Ltd and 45% by Z Ltd. All companies are UK resident and prepare accounts to 31 March. Results for the...

Q:

The government is set a big project and incorporated AA Ltd to fulfil the gap in energy supply. After several rounds of bidding, eventually the ordinary share capital of AA Ltd (a trading company) is...

Q:

The ordinary share capital of PP Ltd (a trading company) is owned 32% by QQ Ltd, 35% by RR Ltd and 23% by SS Ltd. The remaining 10% is owned by various individuals, none of whom own more than 1%. All...

Q:

The ordinary share capital of PP Ltd (a 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...

Q:

The ordinary share capital of PP Ltd (a trading company) is owned 32% by QQ Ltd, 35% by RR Ltd and 23% by SS Ltd. The remaining 10% is owned by various individuals, none of whom own more than 1%. All...

Q:

The ordinary share capital of PP Ltd (a trading company) is owned 32% by QQ Ltd, 35% by RR Ltd and 23% by SS Ltd. The remaining 10% is owned by various individuals, none of whom own more than 1%. All...

Q:

The ordinary share capital of PP Ltd (a 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...

Q:

The government is set a big project and incorporated AA Ltd to fulfil the gap in energy supply. After several rounds of bidding, eventually the ordinary share capital of AA Ltd (a trading company) is...

Q:

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...

Q:

1. Clarify the concept of "implicit cost of a production function. 2. Derive the economic profit and loss of a firm in a perfectly competitive market from the intersection of Total Cost (TC) and...

Q:

Grayson Company failed to count $22,000 of inventory in its 2013 year-end physical count. Required Explain how this error will affect Graysons 2013 financial statements, assuming that Grayson uses...

Q:

Which of the following describes a permanent difference? Multiple Choice A timing difference between the recognition of revenue or expense under GAAP and tax purposes. A fundamental difference in...

Q:

The payback period of an investment is the period of time required for the cumulative cash inflows (net cash flows) from a project to equal the initial cash outlay. a. Weaknesses of the payback...

Q:

Melissa is a sole trader. Her capital gains and capital losses for 2021-22 are 27,000 and 700 respectively. She has capital losses brought forward from 2020-21 of 12,900 and she also has unrelieved...

Q:

In 2021-22, Ahmed has capital gains of 130,000 and allowable losses of 24,000. He also has capital losses brought forward of 3,700. Ahmed's taxable income for 2021-22 (after deduction of the personal...

Q:

Rosemary's capital gains and losses in recent years (and the annual exemption for each year) have been as follows: There were no unrelieved losses to bring forward from 2017-18 or earlier. Compute...

Q:

The VIC Co. has preferred stock outstanding that pays a $4.50 dividend annually and sells for $48.20 per share. What is the rate of return?

Q:

Lewis Co. reports the following results for May. Prepare a flexible budget report showing variances between budgeted and actual results. please help Lewis Co. reports the following results for May...

Q:

Ended September 30, 2017 Income Sheet : Net sales $ 62,240 Cost of products sold 20,757 Gross profit $ 41,483 Marketing, research, administrative expense 16,700 Depreciation 580 Operating income...