T Ltd has owned 90% of the ordinary shares of B Ltd for many years. Both are

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T Ltd has owned 90% of the ordinary shares of B Ltd for many years. Both are UK resident and there are no other subsidiaries.

The results of T Ltd for the years to 31 March 2024 and 2025 and the results of B Ltd for the year to 30 November 2024 are as follows:

No dividends have been received by either company in any of these years and maximum group relief is claimed. Calculate the corporation tax which is payable by each company for each accounting period and state the due date (or dates) of payment.

Assume that FY2023 corporation tax rates and limits apply throughout.

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Taxation Finance Act 2023

ISBN: 9781292461083

29th Edition

Authors: Alan Melville

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Question Posted: May 03, 2024 07:00 AM

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T Ltd has owned 90% of the ordinary shares of B Ltd for many years. Both are

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Taxation Finance Act 2023

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