In the year to 31 March 2018 , a UK company has UK trading profits of 4,800,000
Question:
In the year to 31 March 2018 , a UK company has UK trading profits of £4,800,000 and overseas property income (net of 45% withholding tax) of £2,750,000. Gift Aid donations of £100,000 are made in the year. Compute the corporation tax liability for the year.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
Trading income Income from property 2750000 x 10055 Less Donations Tax...View the full answer
Answered By
Mary Njunu
I posses Vast, diversified knowledge and excellent grammar as a result of working in ACADEMIC WRITING for more than 5 years. I deliver work in various disciplines with assurance of quality work. I purpose at meeting the clients’ expectations precisely. Let’s work together for the best and phenomenal grades.
4.90+
928+ Reviews
2551+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
A UK resident company has 19 subsidiaries, five of which are situated abroad. In the year to 31 March 2018, the company had the following results: UK trading profits UK dividends received UK...
-
a) A UK resident company had UK trading profits of 5,860,000 and overseas property income (net of 35% withholding tax) of 162,500 in the year to 31 March 2022. Calculate the corporation tax liability...
-
A company's income statement for the year to 31 March 2018 is as follows: Notes: 1) The company acquired 240,000 of 10% debentures (for non -trade purposes) on 1 January 2018. Interest is receivable...
-
Bilge Pumpworks and Seaworthy Rope Company agreed to merge on January 1, 20X3. On the date of the merger agreement, the companies reported the following data: Bilge Pumpworks has 10,000 shares of its...
-
What is autoimmunity?
-
On November 1, 2020, Cheng Company (a U.S.-based company) forecasts the purchase of goods from a foreign supplier for 100,000 yuan. Cheng expects to receive the goods on April 30, 2021, and make...
-
Design the schema for a database table that records the times of activations of a motion sensor.
-
Looner Industries is currently analyzing the purchase of a new machine that costs $160,000 and requires $20,000 in installation costs. Purchase of this machine is expected to result in an increase in...
-
Predict what would happen if you dragged the balloon off the sweater and brought it quite close to the wall but did not touch the wall. Explain your reasoning behind the prediction?
-
Donald is resident and domiciled in the UK. He is not a Scottish taxpayer. He has the following income in tax year 2017-18: UK trading profits Income from UK property Income from foreign property...
-
In the year to 31 March 2018, a UK resident company had UK trading profits of 5, 450,000 and overseas property income (net of 35% withholding tax) of 130,000. Compute the corporation tax liability...
-
The table below lists numbers of cricket chirps in 1 minute and the temperature in F. For the prediction interval, use 1000 chirps in 1 minute and use a 90% confidence level. Find the (a) Explained...
-
State whether an air-to-open or air-to-close valve should be specified for the following manipulated variables. (a) Flow of effluent from a wastewater treatment holding tank into a river (b) Flow of...
-
An introduction to yourself as a leader - post your Leader Within representation and description here.
-
What are the meanings of these words based on the common interview question "What is Your Greatest Strength and Your Greatest Weakness?"
-
2x -2.7x. Find the equation of the secant line on the graph of f(x) between # = 7 and x2 = 16. Write your answer in mx + b format. Let f(x) = Y =
-
def add(num1, num2): return num1 + num2 def sub(num1, num2): return num1 - num2 def mult(num1, num2): return num1 * num2 def div(num1, num2): if num2 == 0: raise ZeroDivisionError("Cannot...
-
22 More mirrors. Object O stands on the central axis of a spherical or plane mirror. For this situation, each problem in Table 34-4 refers to (a) The type of mirror, (b) The focal distance f, (c) The...
-
Why is disclosure of depreciation or amortization methods and rates so important?
-
(a) Explain the term "holding gain" in relation to inventories. (b) On the first day of an accounting period, a company acquired inventories at a cost of 60,000. Two-thirds of these inventories were...
-
On 1 March 2020, YY Ltd acquired 85% of the ordinary share capital of ZZ Ltd. There are no preference shares. Both companies prepare financial statements to 31 October each year. Transactions between...
-
On 1 January 2018, C Ltd lent 200,000 to D Ltd at an annual interest rate of 8%. No interest was paid until 31 December 2019, when the loan was repaid in full together with two years' interest (which...
-
A child throws a 0.50 kg snowball at his friend at 12.0 m/s but the snowball lands on the ground in front of his friend. The snowball is 1.3 m above the ground when it leaves the child's hand. a....
-
If sinA=(3)/(5),sinB=(5)/(13), and angles A and B are acute angles, what is the value of cos(A-B)?
-
Tenisa and a colleague have successfully brought in a new client for the decorating business. The first order from the new client is placed on September 15, for a party that takes place October 2-4....
Study smarter with the SolutionInn App