32.6 Brits Ltd is a UK resident company and has a trading profit of 2,120,000 for the...
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32.6 Brits Ltd is a UK resident company and has a trading profit of £2,120,000 for the year ended 31 March 2010. On 3 May 2009, the company received a dividend from a whollyowned overseas subsidiary of £57,400 (net of 18% withholding tax).
The overseas company is liable to 50% overseas tax on all of its profits and has provided for this correctly in its financial statements. Compute the corporation tax liability of Brits Ltd for the year.
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