A company which began trading on 1 April 2015 has no other income apart from its trading
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A company which began trading on 1 April 2015 has no other income apart from its trading profits. Results for the first three accounting periods were as follows:
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yle 31/3/2016 6 months to 30/9/2016 yle 30/9/2017 Trading profits/(losses) 180,000 120,000 (290,000) All possible claims were made to set the trading loss of 290,000 against the company's total profits. All corporation tax was originally paid on the due date and the necessary repayment of corporation tax is made on 1 August 2018. accompany this Calculate the amount of the repayment and the interest which will repayment, assuming an interest rate of 0.5% per annum.
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The trading loss is relieved against the 120000 profit of the six months to 30 September 2016 and th...View the full answer
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