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Question 3: ACE Limited has the following results for the 15 months to 31 December 2021: Adjusted trading profit, before deduction of capital allowances 1,500,000

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Question 3: ACE Limited has the following results for the 15 months to 31 December 2021: Adjusted trading profit, before deduction of capital allowances 1,500,000 Capital allowances claimed: Year to 30 September 2021 312,650 3 months to 31 Dec 2021 40,210 Capital gains/loss Disposal 12 May 2021 (Gain) 15,586 Disposal 6 October 2021 (loss) (12,692) Building society interest: Received 31 December 2020 3,500 Received 31 December 2021 4,000 UK dividend received on 25 November 2021 10,000 Accrued building society interest was 2,000 on 30 September 2020, 4,000 on 30 September 2021 and 2,000 on 31 December 2021. Required: (a) Compute the company's total corporation tax liability for the 15-month period

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