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Sun Rose Ltd prepares accounts for the year-end 31 March 2011 and provides the following information: Property income from renting a warehouse in the UK

Sun Rose Ltd prepares accounts for the year-end 31 March 2011 and provides the following information:

  1. Property income from renting a warehouse in the UK 150,000
  2. Dividends received from unconnected UK companies 63,000
  3. Trading income 750,000
  4. Dividends received from an unconnected German company 27,000
  5. Dividends paid 45,000
  6. Interest income 50,000
  7. Gift Aid donation gross amount paid 25,000

Sun Rose Ltd disposed of some shares held as an investment on 30 June 2010 and realized a chargeable gain of 150000. The tax rate, limits and marginal fraction are given below:

Profit and Limits

Tax rate

MR Fraction

Less than 300,000

21%

Between 300,000 and 1,500,000

Main Rate (28%) Minus Marginal Relief

7/400

Above 1,500,000

28%

Required: Calculate the TTP and corporation tax liability for Sun Rose Ltd for the year ended 31 March 2011.

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