A company has the following results for the year to 31 March 2020: Adjusted trading profit,...
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A company has the following results for the year to 31 March 2020: Adjusted trading profit, after deduction of capital allowances Bank deposit interest (a/c opened 1 July 2019): Received 31 December 2019 Accrued to 31 March 2020 Dividend received in January 2020 Chargeable gains Gift Aid Donations: Paid 30 November 2019 30,000 Accrued to 31 March 2020 £ 360,284 9,957 3,000 24,300 295,327 20,000 The company intend to make Gift Aid donations of £30,000 every six months, starting on 30 November 2019. (a) Compute the company's corporation tax liability for the year (b) How would the tax liability differ if the accounting period had been the year to 30 April 2020 and all of the dates given above had been on month later? A company has the following results for the year to 31 March 2020: Adjusted trading profit, after deduction of capital allowances Bank deposit interest (a/c opened 1 July 2019): Received 31 December 2019 Accrued to 31 March 2020 Dividend received in January 2020 Chargeable gains Gift Aid Donations: Paid 30 November 2019 30,000 Accrued to 31 March 2020 £ 360,284 9,957 3,000 24,300 295,327 20,000 The company intend to make Gift Aid donations of £30,000 every six months, starting on 30 November 2019. (a) Compute the company's corporation tax liability for the year (b) How would the tax liability differ if the accounting period had been the year to 30 April 2020 and all of the dates given above had been on month later?
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Requirement a Particulars Adjusted profit Add Bank interest Received 31 December 2019 A... View the full answer
Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
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