A company which began trading on 1 April 2018 has no other income apart from its trading

Question:

A company which began trading on 1 April 2018 has no other income apart from its trading profits. Results for the first three accounting periods were as follows:

image text in transcribed

All possible claims were made to set the trading loss of £290,000 against the company's total profits. All corporation tax was originally paid on the due date and the necessary repayment of corporation tax is made on 1 August 2021.
Calculate the amount of the repayment and the interest which will accompany this repayment, assuming an interest rate of 0.5% per annum.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: