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Interest and dep'n tax deductible

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£17m of b/fwd trading losses, would set off against profits of Homewize first (£5+50% profits above £5m)

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At 1 May 2023: £769,231

At 31 March 2024: £729,927

Exchange loss: £39,304

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No VAT implications of issue 2.

Forex loss of £39,304.

This will reduce the level of CT payable

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No OTT at present for freehold, sale would go through with 0% taxable use but it started with 100%, no CGS as >10 years old

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An unrealised loss of £39,304 needs to be included in the loss for the company.

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Loss relief is available until 'arrangements to sell' come into place. Negotiations have already taken place to sell the sub(?)

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If Homewize is sold to Anacim, b/fwd losses will not be able to be surrendered to the group for 5 years.

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Restriction of carry forward losses able to be surrendered

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Restriction of carry forward losses able to be surrendered

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Likely to still get SSE for shares as T+A held by group for 12m

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Will be able to use H's c/f losses after 5 years post current accounting period

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Will be able to use H's c/f losses after 5 years post current accounting period

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No access to group relief. If a degrouping charge arises, this too will be exempt from tax by virtue of SSE.

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Stamp duty on shares payable

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Utilise Homewize losses in loss relief group until arrangements for sale

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Utilise Homewize losses in loss relief group until arrangements for sale

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Pre-entry capital gains cannot be used to offset against capital losses in the new group.

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Office building qualifies for CGS - annual adjustment as let out part of the building