Calculate the corporation tax liability of each of the following companies for the accounting period concerned: (a)
Question:
Calculate the corporation tax liability of each of the following companies for the accounting period concerned:
(a) A01 Ltd has taxable total profits of £800,000 for the year to 31 March 2021.
(b) A02 Ltd has taxable total profits of £250,000 for the six months to 31 October 2020.
(c) A03 Ltd has taxable total profits of £1,600,000 for the year to 31 December 2020.
In the case of A03 Ltd, what would the corporation tax liability have been if the main rate for FY2020 had fallen to 17%?
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a The accounting period coincides with FY2020 so the applicable rate o...View the full answer
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