A manufacturing company has the following results for the year to 31 March 2021: The following information

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A manufacturing company has the following results for the year to 31 March 2021:

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The following information is also relevant:

(a) Bank interest of £1,100 was owing to the company at the end of the year. The corresponding amount at the start of the year was zero.

(b) The Government securities were acquired on 1 July 2020. Interest of £28,000 is payable to the company on 30 June and 31 December each year.
Compute the company's taxable total profits for the year to 31 March 2021.

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Taxation Finance Act 2020

ISBN: 9781292360713

26th Edition

Authors: Alan Melville

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Question Posted: Feb 11, 2024 02:00 AM

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A manufacturing company has the following results for the year to 31 March 2021: The following information

Question:

Trading income Income from property Bank interest (amount received) Interest on Government securities (amount received) Dividends from UK companies Chargeable gains Gift Aid donation paid 883,000 14,200 3,200 28,000 18,450 123,000 24,000

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For both parts Trading income Income from property Income from nontrading loan rel...View the full answer

Taxation Finance Act 2020

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