Agreed 

No it’s comes down as a legal way to pay less tax on profit. Plenty of business people do this from small one man bands to big corporate multi nationals.  

I follow that, but, isn't the net position worse than if you didn't own the loss making company?

I follow that, but, isn't the net position worse than if you didn't own the loss making company? My understanding is as per that set out by YeOldPitGate above. 

Thanks, Bluey. However, are you sure it's not all just some sort of deep state conspiracy?

Will Poole be rushing to do the last reveal before Christmas?