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Question 3 ( 10 points) : B3, C1, C2 EXPO Ltd, a UK resident trading company produced the following results for the year ended 31
Question 3 ( 10 points) : B3, C1, C2
EXPO Ltd, a UK resident trading company produced the following results for the year ended 31 March 2022.
|
| |
| Trading income | 244,000 |
| Rental income | 15,000 |
| Bank deposit interest received | 4,000 |
| Bank deposit interest accrued on 31 March 2021 Bank deposit interest accrued on 31 March 2022 | 1,000 2,000 |
| Chargeable gains | 42,000 |
| Qualifying charitable donations | 7,000 |
| Dividends received from UK companies | 30,000 |
There were capital losses of 9,000 brought forward on 1 April 2021.
Required:
- How much investment income (non-trade loan relationship income) should be included in the taxable total profits?
- What are the taxable total profits?
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