A company's taxable total profits for the year to 30 June 2017 are 800,000. In the nine

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A company's taxable total profits for the year to 30 June 2017 are £800,000. In the nine months to 31 March 2018 , the company incurs a trading loss of £700,000 and has no other income or gains. There are no Gift Aid donations in either period.

(a) Explain the corporation tax effects of a claim to relieve the trading loss against total profits.

(b) Calculate the effective rate of tax relief obtained in relation to the trading loss if such a claim is made.

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Taxation Finance Act 2017

ISBN: 9781292200804

23rd Edition

Authors: Alan Melville

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Question Posted: Feb 07, 2024 08:28 AM

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A company's taxable total profits for the year to 30 June 2017 are 800,000. In the nine

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Taxation Finance Act 2017

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