Answered step by step
Verified Expert Solution
Question
1 Approved Answer
it needs to be calculated using UK tax rate: 360,284 A company has the following results for the year to 31 March 2020: Adjusted trading
it needs to be calculated using UK tax rate:
360,284 A company has the following results for the year to 31 March 2020: Adjusted trading profit, after deduction of capital allowances Bank deposit interest (a/c opened 1 July 2019): Received 31 December 2019 9,957 Accrued to 31 March 2020 3,000 Dividend received in January 2020 24,300 Chargeable gains 295,327 Gift Aid Donations: Paid 30 November 2019 30,000 Accrued to 31 March 2020 20,000 The company intend to make Gift Aid donations of 30,000 every six months, starting on 30 November 2019. (a) Compute the company's corporation tax liability for the year (b) How would the tax liability differ if the accounting period had been the year to 30 April 2020 and all of the dates given above had been on month later? 360,284 A company has the following results for the year to 31 March 2020: Adjusted trading profit, after deduction of capital allowances Bank deposit interest (a/c opened 1 July 2019): Received 31 December 2019 9,957 Accrued to 31 March 2020 3,000 Dividend received in January 2020 24,300 Chargeable gains 295,327 Gift Aid Donations: Paid 30 November 2019 30,000 Accrued to 31 March 2020 20,000 The company intend to make Gift Aid donations of 30,000 every six months, starting on 30 November 2019. (a) Compute the company's corporation tax liability for the year (b) How would the tax liability differ if the accounting period had been the year to 30 April 2020 and all of the dates given above had been on month laterStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started