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Let’s form a group
KEY POINTS
- Understanding the relationships of companies within a group is important to maximising exam marks.
- Understanding whether companies are related will enable the corporation tax payment dates to be determined.
- Companies owning at least 75% of others can surrender certain losses within the group.
- Consortium companies can also surrender losses but restrictions apply.
- For a gains group a company must be an immediate 75% subsidiary but the effective interest can be less.
Groups are an important part of ATT Paper 4. In fact although I am not on intimate terms with the examiners I would say that a long question from them is almost guaranteed in the real exam not to mention short form questions (SFQs). Unless students are prepared to forfeit 20 or more...
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