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2) Corporation tax is paid by UK resident companies on their worldwide income (except Dividends from UK companies) and gains for an accounting period (AP).

2) Corporation tax is paid by UK resident companies on their worldwide income (except Dividends from UK companies) and gains for an accounting period (AP). The total income and gains of a company is known as taxable total profits (TTP). Required: Critically examine all the sources of income available to UK resident companies including adjustments that might be needed in arriving at the Taxable Total Profit (TTP).

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