Holding Co has trading losses of £70K in AP.
Trading sub has profits, in same AP, of £30K, but also has losses b/f of £10K.
Does the sub HAVE to claim the loss of £10K first, thus only getting group relief of £20K? Or can it claim £30K of group relief and thus preserve its own losses b/f for the future?
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what type of losses are they? if they are trading losses they have to be offset against the first available profit - hence pre-group relief