Compute the corporation tax liability of each of the following companies: (a) CompV Ltd has taxable total
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Compute the corporation tax liability of each of the following companies:
(a) CompV Ltd has taxable total profits of £128,000 for the year to 31 March 2024 and receives no dividends.
(b) CompW Ltd has taxable total profits of £48,000 and UK dividends of £6,000 for the year to 31 December 2023.
For CompV Ltd, recalculate the corporation tax liability if taxable total profits were lower by £10,000 and demonstrate that the company's marginal rate is 26.5%.
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Somshukla Chakraborty
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