Question: T Ltd has owned 90% of the ordinary share capital of B Ltd for many years. Both are UK resident. Recent results for the two

T Ltd has owned 90% of the ordinary share capital of B Ltd for many years. Both are UK resident. Recent results for the two companies are as follows:

Trading profit/(loss) Chargeable gains Gift Aid donations T Ltd y/e 31/3/2017 880,000

Trading profit/(loss) Chargeable gains Gift Aid donations T Ltd y/e 31/3/2017 880,000 25,000 5,000 T Ltd y/e 31/3/2018 130,000 13,000 5,000 B Ltd y/e 30/11/2017 (174,000) 3,000 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.

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