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1. The following is extracted from the accounts of Leaded Lights Ltd for the year ended 30 November 2020. Profit before tax (note 1)
1. The following is extracted from the accounts of Leaded Lights Ltd for the year ended 30 November 2020. Profit before tax (note 1) 3,750,900 Building expenses (note 2) Depreciation 57.500 267,000 Entertaining (note 3) 16,475 Motor expenses (note 4) 64,500 Miscellaneous (note 5) 97.650 Dividends payable 750,000 Notes: Includes profits of 240,000 remitted from an overseas branch which has had tax of 60,000 deducted. The finance director considers that DTR could be claimed. Includes 18,500 for new thermal insulation in the head office Includes the cost of a staff Christmas party for 1,500 for five senior employees, the remainder relates to client entertaining. Motor expenses includes 12,500 relating to a director's car which has 60% private use. Includes a 2.500 charitable donation to sponsor the annual fete for a local hospice. Leaded Lights Ltd is in a 75% loss group with Sash Ltd who have made a trading loss of 57,500 for the same accounting period which can be surrendered. The tax written down value in the general pool brought forward at 1 December 2019 was 2,065,000 and in the special rate pool was 71,400. During the year additions (not cars) to the general pool were 127,800 and to the special rate pool were 7,600. 2. Prepare a corporation tax computation for the year ended 30 November 2020 showing the total corporation tax due (5 marks)
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