Leamy Pharmaceuticals Ltd is an Irish resident company. The recent results of the company are as follows:

	Year ended	Period ended	Year ended
	31/12/2018	30/09/2019	30/09/2020
	€	€	€
Case I profit/(loss)	400,000	(700,000)	250,000
Case III	40,000	(45,000)	46,000
Case IV	4,500	15,000	2,250
Case V profit/(loss)	2,000	(3,500)	4,500
Capital gains/(losses)	0	(10,000)	60,000
Development land gains/(losses)	0	45,000	(120,000)
Trade Charges	(8,500)	0	0

 

Notes

1. The capital gains/(losses) noted above are the actual capital gains and losses and have not been adjusted. These transactions relate to disposals of shares that did not derive their value from development land.
2. The development land gain of €45,000 arose on the sale of development land in June 2019. The development land loss of €120,000 arose on the sale of development land in August 2020.
3. The trade charges relate to the purchase of a patent royalty that was used for the purposes of the Case I trade.
4. Unutilised trading losses from the Case I trade at 1 January 2018 were €15,000.

 

Required

Calculate the corporation tax payable by the company for each period on the basis that full relief is claimed for all available losses at the earliest opportunity. As part of your answer, explain your treatment of the capital gains/losses and development land gains/losses.