Tax Flashcards
1
Q
What kind of trading/capital losses can be carried forward/back?
A
Trading losses can be carried forward or back (both-for the same kind of trade)
Capital losses can only be carried forward (not back)
2
Q
What is the threshold of % of ownership of a company is a “group” to surrender losses?
A
75% subsidiary of other
both are 75% subsidiary of a third company
3
Q
What is the Diverted Profit tax threshold?
A
25% for large foreign companies with no permanent establishment in the UK with annual revenues of more than 10 million GBP from the supply of goods or services to persons in the UK
