A plc prepared accounts for a 15-month period to 30 June 2020. The results for the period are asfollows:£Adjusted profit 4,000,000Chargeable gain (sale of asset on 6 May 2020) 80,000Qualifying charitable donations (paid annually on 31 July) 20,000The tax written down value of plant and machinery qualifying for capital allowances at 1 April 2019was nil. The capital transactions in plant and machinery during the 15-month period were thepurchase of new vans for £68,000 on 12 May 2019 and plant and machinery costing £277,500 onApril14, 2020.Calculate the corporation tax liabilities for the relevant AP’s

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ANSWER Therefore the corporation tax liabilities for the relevant AP would be 1729875 EXPLANA... View the full answer