S Ltd has taxable total profits of 120,000 for the six months to 30 September 2020 and
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S Ltd has taxable total profits of £120,000 for the six months to 30 September 2020 and receives no dividends. Until 1 June 2019, S Ltd had no related 51% group companies. However, on that date, its entire share capital was acquired by H Ltd. H Ltd has five other wholly-owned subsidiaries, two of which are dormant.
Determine whether or not S Ltd will be required to pay corporation tax by instalments for the six months to 30 September 2020.
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S Ltd had four related 51 group companies H Ltd and its three active subsidiaries at the end of t...View the full answer
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