Heulo Ltd is a trading company. It drew up accounts for the period from 1 January...

 

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Heulo Ltd is a trading company. It drew up accounts for the period from 1 January 2021 to 31 March 2022. The company's results are as follows: Adjusted trading profit Dividends received from UK companies Bank interest income Gift Aid payment Capital gain The following information is available: 1. Dividends were received as follows: 31.12.21 31.03.22 £6,400 £9,600 £ 700,000 16,000 13,000 6,000 1,047,000 2. The bank interest shown is the amount accrued. It accrued evenly over the period of account. 3. The Gift Aid payment was paid on 15.2.22. The amount shown is the gross amount. 4. The capital allowances comprise: 12 months to 31.12.21 3 months to 31.3.22 £55,000 £30,000 5. The capital gain arises from a sale on 1 January 2022 (RPI for Dec 2017 278.1) for £1,147,000 of an asset that had cost £100,000 in June 2005 (RPI: 192.2). Required: Compute the profits chargeable to tax for each of the two accounting periods and the corporation tax liability. Heulo Ltd is a trading company. It drew up accounts for the period from 1 January 2021 to 31 March 2022. The company's results are as follows: Adjusted trading profit Dividends received from UK companies Bank interest income Gift Aid payment Capital gain The following information is available: 1. Dividends were received as follows: 31.12.21 31.03.22 £6,400 £9,600 £ 700,000 16,000 13,000 6,000 1,047,000 2. The bank interest shown is the amount accrued. It accrued evenly over the period of account. 3. The Gift Aid payment was paid on 15.2.22. The amount shown is the gross amount. 4. The capital allowances comprise: 12 months to 31.12.21 3 months to 31.3.22 £55,000 £30,000 5. The capital gain arises from a sale on 1 January 2022 (RPI for Dec 2017 278.1) for £1,147,000 of an asset that had cost £100,000 in June 2005 (RPI: 192.2). Required: Compute the profits chargeable to tax for each of the two accounting periods and the corporation tax liability. Heulo Ltd is a trading company. It drew up accounts for the period from 1 January 2021 to 31 March 2022. The company's results are as follows: Adjusted trading profit Dividends received from UK companies Bank interest income Gift Aid payment Capital gain The following information is available: 1. Dividends were received as follows: 31.12.21 31.03.22 £6,400 £9,600 £ 700,000 16,000 13,000 6,000 1,047,000 2. The bank interest shown is the amount accrued. It accrued evenly over the period of account. 3. The Gift Aid payment was paid on 15.2.22. The amount shown is the gross amount. 4. The capital allowances comprise: 12 months to 31.12.21 3 months to 31.3.22 £55,000 £30,000 5. The capital gain arises from a sale on 1 January 2022 (RPI for Dec 2017 278.1) for £1,147,000 of an asset that had cost £100,000 in June 2005 (RPI: 192.2). Required: Compute the profits chargeable to tax for each of the two accounting periods and the corporation tax liability. Heulo Ltd is a trading company. It drew up accounts for the period from 1 January 2021 to 31 March 2022. The company's results are as follows: Adjusted trading profit Dividends received from UK companies Bank interest income Gift Aid payment Capital gain The following information is available: 1. Dividends were received as follows: 31.12.21 31.03.22 £6,400 £9,600 £ 700,000 16,000 13,000 6,000 1,047,000 2. The bank interest shown is the amount accrued. It accrued evenly over the period of account. 3. The Gift Aid payment was paid on 15.2.22. The amount shown is the gross amount. 4. The capital allowances comprise: 12 months to 31.12.21 3 months to 31.3.22 £55,000 £30,000 5. The capital gain arises from a sale on 1 January 2022 (RPI for Dec 2017 278.1) for £1,147,000 of an asset that had cost £100,000 in June 2005 (RPI: 192.2). Required: Compute the profits chargeable to tax for each of the two accounting periods and the corporation tax liability. Heulo Ltd is a trading company. It drew up accounts for the period from 1 January 2021 to 31 March 2022. The company's results are as follows: Adjusted trading profit Dividends received from UK companies Bank interest income Gift Aid payment Capital gain The following information is available: 1. Dividends were received as follows: 31.12.21 31.03.22 £6,400 £9,600 £ 700,000 16,000 13,000 6,000 1,047,000 2. The bank interest shown is the amount accrued. It accrued evenly over the period of account. 3. The Gift Aid payment was paid on 15.2.22. The amount shown is the gross amount. 4. The capital allowances comprise: 12 months to 31.12.21 3 months to 31.3.22 £55,000 £30,000 5. The capital gain arises from a sale on 1 January 2022 (RPI for Dec 2017 278.1) for £1,147,000 of an asset that had cost £100,000 in June 2005 (RPI: 192.2). Required: Compute the profits chargeable to tax for each of the two accounting periods and the corporation tax liability. Heulo Ltd is a trading company. It drew up accounts for the period from 1 January 2021 to 31 March 2022. The company's results are as follows: Adjusted trading profit Dividends received from UK companies Bank interest income Gift Aid payment Capital gain The following information is available: 1. Dividends were received as follows: 31.12.21 31.03.22 £6,400 £9,600 £ 700,000 16,000 13,000 6,000 1,047,000 2. The bank interest shown is the amount accrued. It accrued evenly over the period of account. 3. The Gift Aid payment was paid on 15.2.22. The amount shown is the gross amount. 4. The capital allowances comprise: 12 months to 31.12.21 3 months to 31.3.22 £55,000 £30,000 5. The capital gain arises from a sale on 1 January 2022 (RPI for Dec 2017 278.1) for £1,147,000 of an asset that had cost £100,000 in June 2005 (RPI: 192.2). Required: Compute the profits chargeable to tax for each of the two accounting periods and the corporation tax liability.

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2 Answey gieon below Augite chargable to Tax for the PaRy endeding 3132021 IS 1 Aguate... View the full answer